According to the COSO Definition of Safeguarding of Assets

question 37

Multiple Choice

According to the COSO definition of safeguarding of assets:

• A)controls over financial reporting are effective if they provide reasonable assurance that asset losses will not occur.
• B)controls over financial reporting are effective if they provide reasonable assurance that losses are properly reflected in the financial statements.
• C)controls over financial reporting are effective if they provide reasonable assurance that asset losses will not occur and that losses are properly reflected in the financial statements.
• D)there is no way to create controls that will provide reasonable assurance that asset losses will not occur.

---

Definitions:

Five-Stage View of Change

A conceptual framework suggesting that change occurs in five distinct stages: precontemplation, contemplation, preparation, action, and maintenance.

Rogers

Refers to Carl R. Rogers, an influential American psychologist known for his contributions to humanistic psychology and the client-centered approach.

Havelock

Refers to Ronald G. Havelock, a scholar known for his work on the theory and implementation of change, particularly the Change Agent Model.

Lippitt

Refers to Ronald Lippitt, an American psychologist known for his work on organizational change and group dynamics.