UARIZONA OMSA Audit Exam with Questions and Answers

UARIZONA OMSA Audit Exam with Questions and Answers Which of the following are responsibilities that fall on management under the Sarbanes-Oxley Act of 2002? a) Certify the accuracy of financial statements. b) Hire an independent external auditor. c) Design effective internal controls (ICFR) d) Both A and C. e) All of the above. ANSWER d) Both A and C. Which of the following is a possible type of opinion that auditors might provide regarding the effectiveness of internal control? a) Unqualified b) Qualified c) Disclaimer d) All of the above ANSWER a) Unqualified (Auditors only issue an unqualified opinion or adverse opinion..... but there is an EXCEPTION: if scope limitations/restrictions exist relating to ICFR, the auditor should either withdraw from the engagement or issue a disclaimer of opinion)