The statement of management's responsibility for internal control,issued along with a company's financial statements,indicates all of the following EXCEPT that management:
A)is responsible for establishing and maintaining an adequate system of internal control.
B)conducted an assessment of internal control over financial reporting based on the framework established by COSO.
C)states that the internal controls of the company have been audited by the company's outside auditors.
D)states that the internal controls of the company have been designed by the company's outside auditors.

Question

Quizplus · Accepted Answer

Management's responsibility statement does not indicate that internal controls have been designed by outside auditors; it is management's responsibility to design and implement internal controls.

The Statement of Management's Responsibility for Internal Control,issued Along with a Company's