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The COSO principle that an organization should identify and assess changes that significantly impact the system of internal control is related to which COSO component?
Balance Sheet
A financial statement showing a company's assets, liabilities, and shareholders' equity at a specific point in time, reflecting the financial condition of the company.
Accounts Receivable
Money owed to a company by its customers for products or services that have been delivered but not yet paid for.
Accounts Payable
Liabilities owed by a business to its creditors for goods and services received, but not yet paid for.
Notes Payable
A financial accounting term that represents a written promise to pay a certain amount of money, typically with interest, on or before a specified date.
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