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:

SaaS

Stands for Software as a Service, a model of software delivery where applications are hosted by a service provider and made available to users over the internet.

Commercial Software

Software developed and sold for profit, typically requiring the purchase of a license for use.

Embedded Software

Computer software that is designed to operate within a specific hardware device or system, often with real-time computing constraints.

Motion Sensors

Devices that detect moving objects, particularly people, often used in security systems, lighting control, and automation.