. COSO's Internal Control Framework consists of five internal control components and 17 principles for...
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Accounting
. COSO's Internal Control Framework consists of five internal control components and 17 principles for achieving effective internal control. Which of the following is/are (a) principle(s)? I. The organization demonstrates a commitment to integrity and ethical values. II. Monitoring activities. III. A level of assurance that is supported by generally accepted auditing procedures and judgments. IV. A body of guiding principles that form a template against which organizations can evaluate a multitude of business practices. V. The organization selects, develops, and performs ongoing and/or separate evaluations to ascertain whether the components of internal control are present and functioning. a. II only. b. I and V only. c. II and IV only. d. I, II, III, IV, and V. Determining that engagement objectives have been met is ultimately the responsibility of the a. Internal auditor. b. Audit committee. c. Internal audit supervisor. d. CAE
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