THE COSO FRAMEWORK ACTUAL 2025/2026 Q&A 100% PASS

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THE COSO FRAMEWORK ACTUAL 2025/2026 QUESTIONS AND 100% CORRECT ANSWERS What does COSO stand for? - Answer -Committee on Sponsoring Organizations How many principles are there under COSO? - Answer -17 How many major internal control components are there under COSO? - Answer -5 Who uses COSO - Answer -Management, the board of directors, and stockholders What is the framework's primary purpose? - Answer -Creating an understanding of what constitutes an effective system of internal control How does Management and the Board of Directors use COSO? - Answer -Effectively applying internal controls, determining that internal control's requirements, identifying and analyzing risks, and eliminating redundant, ineffective, or inefficient controls How do Stakeholders use COSO? - Answer -Increasing their understanding of what constitutes an effective system of internal control and increased confidence that management knows what they are doing What is the definition of internal control? - Answer -A process that is designed and implemented by an organization's management to provide reasonable assurance that it will achieve its compliance, operating, and reporting objectives Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com