COSO Has Published Integrated Frameworks for Both Internal Control and for Enterprise

question 71

Multiple Choice

COSO has published integrated frameworks for both internal control and for enterprise risk management.Which of the following statements about the frameworks is most true?

• A)The internal control framework is more useful than the enterprise risk management framework.
• B)The enterprise risk management framework is more useful than the internal control framework.
• C)Management attitudes are an element of both frameworks.
• D)Both frameworks are required by the SEC.

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Definitions:

Abstract

A brief summary of a research article, thesis, review, or other long report on a subject or project.

Concrete

Existing in a material or physical form; not abstract.

Concept

An abstract idea or a mental symbol that represents some aspect of the world, often forming the basis of thought.

Abstractness

The quality of being abstract; not related to concrete objects but expressing ideas and concepts at a higher level.