ExpertEasy1 markMultiple Choice
CPA · Question 50 · Area II: Risk Assessment
Which of the following is a component of the COSO Internal Control—Integrated Framework?
Which of the following is a component of the COSO Internal Control—Integrated Framework?
Answer options:
A.
Segregation of Duties.
B.
Information and Communication.
C.
Reliability of Financial Reporting.
D.
Materiality.
How to approach this question
Memorize CRIME (Components) and ORC (Objectives). Don't mix them up.
Full Answer
B.Information and Communication.✓ Correct
The 5 COSO Components are: Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring.
Common mistakes
Confusing Components (CRIME) with Objectives (ORC) or Principles.
Practice the full CPA AUD Practice Exam 3
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