Because the procurement business process generates revenue amounts that are considered to be significant accounts, disclosures, and assertions on a company's income statement,
risk assessment of the procurement business process is necessary for compliance with Sarbanes-Oxley.
Indicate whether the statement is true or false.
Answer: FALSE
You might also like to view...
Verification of a firm's financial accounts and statements by the organization's own professional staff is a(n) __________
a. external audit b. internal audit c. income statement d. balance sheet
For each account listed, identify the category in which it would appear on a classified balance sheet
Account Location on a Classified Balance Sheet a Retained Earnings b Accumulated Depreciation - Equipment c Notes Payable (due in two years) d Unearned Revenue e Salaries Payable f Accounts Receivable g Trademark h Prepaid Rent (prepaid for six months) What will be an ideal response