The COSO Framework Identifies Three Objectives of Internal Control That

question 88

Multiple Choice

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

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Definitions:

Cascade Effect

A process where one event precipitates a series of subsequent events, often amplifying the initial triggering condition.

Protein Kinase

An enzyme that modifies other proteins by chemically adding phosphate groups to them, impacting their activity.

Calmodulin

Protein receptor for Ca2+ that plays a role in many Ca2+-regulated processes, such as smooth muscle contraction.

Steroid Hormones

Lipid-soluble molecules derived from cholesterol that regulate a variety of physiological functions including metabolism, inflammation, and sexual function.