Select a United States based company, and go its website. Review
management’s report on its assessment of internal controls and the
auditor’s report on the integrated audit. What type of opinion did
the auditor give on the internal controls over financial reporting
and the financial statements?
What does, “All internal control systems, no matter how well
designed, have inherent limitations. Therefore, even a system
determined to be effective can provide only reasonable assurance
with respect to financial statement preparation and presentation,”
mean to you? This paragraph is not required. Was it present in the
report that you reviewed? Do you think it should be required? Why
or Why not?
Your answer must be in your own words.
Approximate length: 1 to 2 double-spaced pages.