Which of the following does the COSO framework identify as an objective of internal control?
A)efficiency and effectiveness of management and the board of directors
B)placement and efficiency of internal controls
C)reliability of financial reporting
D)compliance with laws and regulations
E)reliability of the five components of internal control
F)both A and B
G)both C and D
H)both A and E

Question

Quizplus · Accepted Answer

The COSO framework identifies the objective of internal control as being primarily focused on achieving reliable financial reporting and complying with laws and regulations. Option G, which includes both the reliability of financial reporting and compliance with laws and regulations, is therefore the correct choice.

Which of the Following Does the COSO Framework Identify as an Objective