Question at position 31 Which of the following is an objective of COSO’s internal control framework:Compliance objectives.Control environment.Information and communication.Monitoring Activities.

Question

BlackTom AI · Accepted Answer

The question asks to identify which item is an objective within COSO’s internal control framework. 
Option 1: Compliance objectives. This corresponds to one of COSO’s three categories of objectives (operations, reporting, and compliance), making it a valid objective of the framework. 
Option 2: Control environment. This is a component or element of the internal control framework, not an objective. It sets the foundation for effective controls but isn’t itself an objective you aim to achieve. 
Option 3: Information and communication. Like the control environment, this is a core component that enables the system to function, not a formal objective to be attained. 
Option 4: Monitoring Activities. This is another essential component of the framework, involving ongoing or separate evaluations to ensure controls operate effectively; it is not an objective by itself. 
Thus, among the options, Compliance objectives are the true objective category emphasized by COSO, whereas the others describe components or activities that support achieving those objectives.

Question at position 31 Which of the following is an objective of COSO’s internal control framework:Compliance objectives.Control environment.Information and communication.Monitoring Activities.

View Explanation

Log in for full answers

Similar Questions

Which of the following is not an overall primary objective of the COSO framework?

Match the following examples to the correct component of internal control. 1: Control environment 2: Monitoring 3: Control activities

Which element of internal control does this best relate to? A financial services firm conducts regular internal audits to evaluate the effectiveness of its internal controls and make necessary improvements.

Match the following examples to the correct component of internal control. 1: Control environment 2: Risk assessment 3: Control activites 4: Monitoring 5: Information and communication

Match the example to the correct component of internal control. 1: Control environment 2: Control activities 3: Risk assessment

The purpose of a _____ is to safeguard assets, optimize the use of the organization’s resources and prevent or detect errors or fraud.

Question at position 3 Monitoring internal control systems is the primary responsibility of the:Board of directors.Senior management.External auditors.Internal auditors.

More Practical Tools for International Students

Homework AI Solver

Stylized Writing Assistant

Plagiarism Checker Assistant

Citation Assistant

In-Class Translation Assistant

Class Notes Assistant

Quiz Search Assistant

Past Exam Questions by School

Smart Practice Assistant

Adaptive Practice

Making Your Study Simpler