In the COSO Internal Control-Integrated Framework, control activities do not include
A)Independent reconciliations of assets and accounting records
B)Physical controls
C)Segregation of duties
D)Management controls

Question

Quizplus · Accepted Answer

Control activities in the COSO Internal Control-Integrated Framework include independent reconciliations of assets and accounting records, physical controls, and segregation of duties. Management controls, on the other hand, are part of the overall control environment and refer to the actions of senior management to establish and maintain the control culture of the organization. Therefore, option D is the correct choice as control activities do not include management controls.

In the COSO Internal Control-Integrated Framework, Control Activities Do Not