The Financial Accounting and Reporting Infrastructure of any organization must:

The Financial Accounting and Reporting Infrastructure of any organization must:

I. Accurately represent the corporation’s current and known financial condition in a timely manner

II. Only use off-balance sheet transactions which have a legitimate economic, tax, risk transfer or risk mitigating purpose

III. Provide a detailed description of the Risk Management Infrastructure in the organization’s Annual Report to Shareholders

IV. Provide an auditable Annual Statement of Compliance with the Board’s publicly stated Standards of Corporate Governance to the Board and Audit Committee
A . I, II and III only
B . I, III and IV only
C . I and III only
D . All of these are expected of the Financial Accounting and Reporting Infrastructure

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Answer: D