The Largest Differences Between the COSO Integrated Control (IC)framework and the COSO

question 123

Multiple Choice

The largest differences between the COSO Integrated Control (IC) framework and the COSO Enterprise Risk Management (ERM) framework is

• A)IC is controls-based,while the ERM is risk-based.
• B)IC is risk-based,while ERM is controls-based.
• C)IC is required,while ERM is optional.
• D)IC is more applicable to international accounting standards,while ERM is more applicable to generally accepted accounting principles.

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Definitions:

Extinction Rate

The rate at which species become extinct, often accelerated by human activities and environmental changes.

Survival Rate

The percentage of individuals or entities that continue to exist or function over a specified period of time.

Microevolution

The change in the genetic makeup of a population over time, leading to the development of new species.

Biological Evolution

The process through which the characteristics of organisms change over successive generations, by means of genetic variation and natural selection.