Which of the following management responsibilities is NOT established under PCAO

Question

Which of the following management responsibilities is NOT established under PCAOB standards?

1) To present a written assessment of the effectiveness of the company’s internal control over financial reporting as of the end of the company’s most recent fiscal year

2) To evaluate the effectiveness of the company’s internal control over financial reporting using suitable criteria

3)To accept responsibility for the effectiveness of the company’s internal control over financial reporting

4) To perform cost-benefit analysis with respect to internal controls relating to assertions having a material effect on the financial statements

Explanation / Answer

4) To perform cost-benefit analysis with respect to internal controls relating to assertions having a material effect on the financial statements

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