Why Was the Original 1992 COSO - Integrated Control Framework

question 100

Multiple Choice

Why was the original 1992 COSO - Integrated Control framework updated in 2013?

• A) Congress required COSO to modernize.
• B) U.S. stock exchanges required more disclosure.
• C) to more effectively address technological advancements
• D) to comply with International accounting standards

---

Definitions:

Economic Uncertainty

Economic uncertainty involves unpredictable changes in the economic environment that can affect decision making, investments, and economic outcomes.

Price Level

Price level is the average of current prices across the entire spectrum of goods and services produced in the economy.

Production Decrease

A reduction in the output of goods and services produced by an economy or firm, often leading to negative economic consequences.

Real GDP

Measures the value of all final goods and services produced within a country's borders in a specific time period, adjusted for inflation.