COSO Framework Objectives Flashcards
1
Q
COSO Internal Control - Integrated Framework assists organization in developing
A
Comprehensive assessments of internal control effectiveness
2
Q
Categories of Framework Objectives
A
Operating
Reporting
Compliance
3
Q
Operating Objectives pertain to
A
effectiveness and efficiency
4
Q
Reporting Objectives relate to
A
Reliability, Timeliness and transparency of External and Internal Financial and Non-Financial reporting
Fair, accurate, complete, timely (FACT)
5
Q
Compliance Objectives are developed to ensure
A
compliance with laws and regulations
