Which COSO Internal Control-Integrated Framework Essential Component of an Effective

question 16

Multiple Choice

Which COSO Internal Control-Integrated Framework essential component of an effective internal control system involves identifying, analyzing, and managing risks that affect a company's ability to record, process, summarize, and report financial data properly?

• A)Risk Assessment
• B)Control Environment
• C)Control Activities
• D)Monitoring

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Definitions:

Authentic Leadership

A leadership style that emphasizes genuine, transparent, and ethical leader behavior, encouraging trust and integrity.

Empowering Leadership

A leadership style focused on delegating decision-making power to subordinates, fostering independence, and encouraging personal and professional growth.

Ethical Leadership

The practice of leading by demonstrating moral behavior, inspiring a sense of justice and fairness, and encouraging ethics in decision-making among followers.

Strategic Leadership

The ability to influence others in the direction of long-term goals and visions.