Governance, Risk And Control Flashcards
1
Q
SOX section 303
A
Principal Officer must state they have reviewed FS to best of their ability, that it doesn’t contain material misstatements & fairly presents info
2
Q
Fair Labor Standards Act requires firms to keep ____ years of payroll data stored
A
3
3
Q
______ ________ is the overall awareness of attitudes, awareness and actions of directors and managment regarding internal control systems
A
Control environment
4
Q
True/false
Detection risk is inversely related to risk of material misstatements (control and inherent risks)
A
True
