Question

The definition of internal control developed by the Committee of Sponsoring Organizations (COSO) includes controls related to the reliability of financial reporting, the effectiveness and efficiency of operations, and:A. Compliance with applicable laws and regulations.B. Effectiveness of prevention of fraudulent occurrences.C. Safeguarding of entity equity.D. Incorporation of ethical business practice standards.

Answer 1

A. Compliance with applicable laws and regulations.

Step-by-step explanation:

The definition of internal control developed by the Committee of Sponsoring Organizations (COSO) includes controls related to the reliability of internal and external reporting, the effectiveness and efficiency of operations, and Compliance with applicable laws and regulations.