Which of the Following Statements Is True of the Committee

question 38

Multiple Choice

Which of the following statements is true of the Committee of Sponsoring Organizations standards for internal controls?

• A)It prohibited various forms of professional services that are determined to be consulting rather than auditing.
• B)It ensured ethical corporate governance by establishing regulations enforced by laws.
• C)It was passed by the U.S.Congress as a response to the string of corporate scandals that occurred since the beginning of the millennium.
• D)It moved audit,compliance,and governance from a numbers orientation to concern for the organizational environment.

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Definitions:

Wasteful Use

The inefficient or excessive consumption of resources without providing proportionate benefits.

Shortsightedness Effect

The tendency of decision-makers to prioritize short-term gains and benefits over long-term consequences, often resulting in adverse outcomes.

Political Action

Engagement in activities intended to influence public policy and leadership, ranging from voting to participating in demonstrations or lobbying efforts.

Future Benefits

Expected advantages or earnings from an investment, action, or decision, anticipated to be realized in the future.