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Internal Control Principles One of the COSO Principles of Internal

question 59

Essay

Internal Control Principles One of the COSO principles of internal control requires organizations to demonstrate a commitment to attract,develop,and retain competent individuals in alignment with objectives.Discuss how this can be done.


Definitions:

Organizational Vision

Organizational Vision is a strategic declaration of what an organization aspires to achieve in the future, guiding its direction and decisions.

Survival Anxiety

The fear that an organization or individuals may fail to survive due to inadequate adaptation to changing environments or internal issues.

Role Models

Individuals whose behavior, example, or success is or can be emulated by others, especially by younger people.

Planned Change

A deliberate effort to improve an organization's effectiveness or efficiency through modifications in processes, policies, or technologies.

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