Question

COSO requires that any internal deficiencies identified through monitoring be reported to whom?

a. The external auditor.
b. The company's management.
c. The board of directors.
d. The audit committee.

Answer 1

COSO requires that internal deficiencies be reported to the audit committee.

Step-by-step explanation:

The COSO framework requires that any internal deficiencies identified through monitoring be reported to the audit committee. The audit committee is a subgroup of the board of directors that is responsible for overseeing the company's financial reporting and internal control processes. They work closely with the company's management and external auditors to ensure compliance and address any issues that arise.