Define the COSO component "Control Activities"
A)to identify risks to the entity's ability to achieve its objectives
B)the procedures used by the company to help it achieve its objectives
C)systems to exchange the information needed to make decisions
D)to determine whether internal controls effectively prevent misstatements or detect misstatements in the financial statements

Question

Quizplus · Accepted Answer

"Control Activities" refer to the policies and procedures implemented by a company to help it achieve its objectives. These activities can include a range of measures, such as authorizations and approvals, segregation of duties, physical controls, and IT controls. The purpose of control activities is to limit the organization's exposure to risk, and they play a central role in ensuring that business objectives are met effectively and efficiently.

Define the COSO Component "Control Activities