Problem
Diamond Jousts, a UK Limited Company, is traded on the American Stock Exchange as American.
Diamond Jousts, a UK Limited Company, is traded on the American Stock Exchange as American Depository Receipts (ADRs). They hire Lancelot, Elaine, and Guinevere, Chartered Accountants, to prepare an internal control report to meet Sarbanes-Oxley requirements.
Required:
A. What should the report of management contain?
B. Draft an unqualified opinion on management's assessment of the effectiveness of internal control for the CA firm.