Based on the COSO Definition of Internal Controls,which of the Following

question 55

Multiple Choice

Based on the COSO definition of internal controls,which of the following is NOT an aim of internal controls?

• A)Effective and efficient operations
• B)Reliable financial reporting
• C)Compliance with laws and regulations
• D)Safe workplace

---

Definitions:

Expenses

Costs incurred during the operation of a business or the execution of a task.

Passive Fraud

A failure to reveal some material fact about the subject matter of a contract that one party is obligated to reveal to the other party and that intentionally deceives that second party, leading him or her into a damaging contract. Also called concealment and nondisclosure.

Obligation

A legal or moral responsibility or duty that compels someone to act or refrain from acting in a certain manner.

Certain Facts

Specific pieces of information that are true, verified, and indisputable.