Internal control relates to an organization's achievement of objectives in three major categories. Which of the following best pairs one of the categories with a specific example?
A)Reliability of financial reporting, reconciling the bank statement at least monthly
B)Reliability of financial reporting, following the COSO internal control framework
C)Compliance with all known laws and regulations, following the COSO internal control framework
D)Compliance with all known laws and regulations, fulfilling the requirements of the Foreign Corrupt Practices Act

Question

Quizplus · Accepted Answer

Reliability of financial reporting is one of the major categories of internal control and reconciling the bank statement at least monthly is a specific example of achieving this objective.

Internal Control Relates to an Organization's Achievement of Objectives in Three