ExpertHard1 markMultiple Choice
CPA · Question 16 · Area I: Business Analysis
Under the COSO Enterprise Risk Management (ERM) framework (2017), which component includes the principle 'Demonstrates Commitment to Core Values'?
Under the COSO Enterprise Risk Management (ERM) framework (2017), which component includes the principle 'Demonstrates Commitment to Core Values'?
Answer options:
A.
Governance and Culture
B.
Strategy and Objective-Setting
C.
Performance
D.
Review and Revision
How to approach this question
Associate 'Values', 'Ethics', 'Board Oversight' with Governance and Culture.
Full Answer
A.Governance and Culture✓ Correct
A
The Governance and Culture component consists of principles related to board oversight, operating structures, culture, and core values.
Common mistakes
Confusing Governance with Strategy.
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