Non public companies:
A) do not have to be audited.
B) are not required to have an audit of their ICFR.
C) follow different standards than public companies.
D) present little, if any, risk to auditors.

Question

Quizplus · Accepted Answer

Non public companies are not required to have an audit of their internal control over financial reporting (ICFR). However, they may still choose to have an audit for other reasons, such as obtaining financing or reassuring investors.

Non Public Companies