The Definition of Internal Control Developed by the Committee of Sponsoring

question 32

Multiple Choice

The definition of internal control developed by the Committee of Sponsoring Organizations (COSO) includes controls related to the reliability of internal and external reporting,the effectiveness and efficiency of operations,and:

• A)Compliance with applicable laws and regulations.
• B)Effectiveness of prevention of fraudulent occurrences.
• C)Safeguarding of entity equity.
• D)Incorporation of ethical business practice standards.

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Definitions:

Self-efficacy

The belief in one's own ability to succeed in specific situations or accomplish a task.

Verbal Persuasion

A method of influencing someone's behavior, beliefs, or attitudes using words and communication.

Physiological Arousal

A physical state of alertness and activation, often a response to stimuli that involves changes in bodily functions.

Developmental Aspects

Refers to the changes and growth that occur in humans over the course of their life, including physical, cognitive, social, and emotional development.