The COSO Enterprise Risk Management Framework Comprises Eight Sections, One

question 58

Multiple Choice

The COSO enterprise risk management framework comprises eight sections, one of which is objective setting.COSO identified five types of objectives most organizations should consider in developing an ERM plan."Completing SEC filings within thirty days of the fiscal year end" is an example of a ___ objective.

• A)Strategic
• B)Reporting
• C)Risk management
• D)Control activity

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Definitions:

Back Office

The back office consists of the administrative and support personnel in a company who are not client-facing, responsible for functions such as settlements, clearances, record maintenance, and IT services.

Car Hire Companies

Businesses specializing in renting out automobiles for short periods of time, often varying from a few hours to several weeks.

Auto Repairers

Businesses or individuals specializing in fixing and maintaining vehicles.

Intangible Outputs

Non-physical results produced by an organization or system, such as customer satisfaction, brand reputation, or intellectual property.