In an audit report on the effectiveness of ICFR for a public company, to what does the basis of opinion paragraph make a reference?A definition of ICFR that is taken directly from PCAOB AS 2201.O The COSO Internal Control-Integrated Framework as the criteria used as the basis for determining if ICFR are effective.O The financial statement audit report and the type of opinion that was given on the financial statements.Registration with the PCAOB and independence requirements of the SEC and other federal securities laws.

The basis of opinion paragraph in an audit report on the effectiveness of Internal Control over…

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In an audit report on the effectiveness of ICFR for a public company, to what does the basis of opinion paragraph make a reference?

Auditing: A Risk Based-Approach to Conducting a Quality Audit

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ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter17: Other Services Provided By Audit Firms

Section: Chapter Questions

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Question

In an audit report on the effectiveness of ICFR for a public company, to what does the basis of opinion paragraph make a reference?
A definition of ICFR that is taken directly from PCAOB AS 2201.
O The COSO Internal Control-Integrated Framework as the criteria used as the basis for determining if ICFR are effective.
O The financial statement audit report and the type of opinion that was given on the financial statements.
Registration with the PCAOB and independence requirements of the SEC and other federal securities laws.

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