Which Two of the Following Principles Are Within the Monitoring

question 121

Multiple Choice

Which two of the following principles are within the monitoring component of the seventeen COSO principles of internal control?

• A)The organization selects, develops, and performs ongoing and/or separate evaluations to ascertain whether the components of internal control are present and functioning.
• B)The organization evaluates and communicates internal control deficiencies in a timely manner to those parties responsible for taking corrective action, including senior management and the board of directors, as appropriate.
• C)The organization internally communicates information, including objectives and responsibilities for internal control, necessary to support the functioning of internal control.
• D)The organization communicates with external parties regarding matters affecting the functioning of internal control.

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Definitions:

Responding Stage

A phase in communication where feedback is given to the sender after receiving a message.

Oral Communication

The process of verbally conveying messages, ideas, or information from one person to another.

Poor Listening

The act of failing to effectively receive or interpret messages during the communication process.

Chain of Command

The formal line of authority, communication, and responsibility within an organization.