Which of the Following Is Not One of the Reasons

question 6

Multiple Choice

Which of the following is not one of the reasons COSO developed the more comprehensive ERM framework?

• A)The internal control framework has too narrow a focus.
• B)Long-standing internal control systems often have controls that protect against items that are no longer risks.
• C)Risk should be evaluated first,before controls.
• D)The Sarbanes-Oxley Act of 2002 required it.

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Definitions:

Expert

An individual with specialized knowledge or skills in a particular area, often called upon to give opinions or advice.

Rescission

The legal cancellation of a contract, which may release all involved parties from their contractual obligations.

Damages

Monetary compensation awarded by a court to a party who has suffered loss or harm due to the wrongful act or negligence of another.

Fraud

An intentional deception made for personal gain or to damage another individual.