The COSO Framework identifies three objectives of internal control that allow organizations to focus on the differing purposes of internal control.One of these is ________.
A)client acceptance and continuance
B)compliance objectives which pertain to adherence to laws and regulations to which the entity is subject
C)internal control analysis
D)risk of material misstatement

Question

Quizplus · Accepted Answer

The COSO Framework identifies three objectives of internal control, including operations objectives (pertaining to the effectiveness and efficiency of operations), reporting objectives (pertaining to the reliability of reporting), and compliance objectives (pertaining to adherence to laws and regulations to which the entity is subject). Client acceptance and continuance, internal control analysis, and risk of material misstatement are not objectives identified by the COSO Framework.

The COSO Framework Identifies Three Objectives of Internal Control That