COSO Characteristics of Internal Control Include

question 10

Multiple Choice

COSO characteristics of internal control include
I..effectiveness and efficiency of operations
II..reliability of financial reporting

• A) only for I
• B) only for II
• C) neither I or II
• D) both I and II

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Definitions:

Policy Innovation

The creation or adoption of new policies which aim to address existing challenges in more effective or efficient ways.

Ambitious Changes

Significant alterations or reforms aimed at achieving substantial improvements or advancements.

Minimal Resources

Describes a situation or condition where there is a scarcity of materials, finances, or capabilities needed to achieve an objective.

Bending the Rules

The act of slightly altering or interpreting regulations in a non-traditional way to achieve a desired outcome, often in a creative or unorthodox manner.