Bumble Beasley was making a presentation on internal control to a group of prospective clients.Which of the following statements is the least appropriate for Bumble to make?
A)Responsibility for internal control should be shared throughout the organization.
B)All companies must use the COSO definition of internal control as a guide.
C)Internal controls are not designed specifically to prevent fraud.
D)Part of internal control is ensuring that a company is making the best possible use of its resources.

Question

Quizplus · Accepted Answer

The statement that all companies must use the COSO definition of internal control as a guide is incorrect, as there are other accepted frameworks for internal control. Bumble should not make statements that are untrue or misleading to clients.

Bumble Beasley Was Making a Presentation on Internal Control to a Group