The Five Interrelated Components of Internal Control (According to the COSO

question 29

Multiple Choice

The five interrelated components of internal control (according to the COSO framework) include the following:

• A) Control environment, risk assessment, control activities, organizational structure, and monitoring
• B) Control environment, risk assessment, integrity and ethical values, information and communication, and monitoring.
• C) Control environment, risk assessment, control activities, information and communication, and monitoring
• D) Control environment, risk assessment, control activities, information and communication, and human resource policies and practices

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Definitions:

Middle-aged

A period of adulthood that typically describes individuals aged between 45 and 65, often characterized by stability, maturity, and increased responsibilities.

Faith

A strong belief or trust in someone or something often without logical proof.

Employment Rate

The percentage of the labor force that is employed, often used as an indicator of the economic health of a country or region.

Older Workers

Individuals in the workforce who are considered to be nearing or beyond the traditional age of retirement.