The COSO report identified five interrelated components of internal control. Since then, a sixth category has been identified, which is:
A) monitoring.
B) risk assessment.
C) information and communication.
D) control activities
E) antifraud programs and controls

Question

Quizplus · Accepted Answer

The COSO framework originally identified five components of internal control: control environment, risk assessment, control activities, information and communication, and monitoring. The addition of antifraud programs and controls as a sixth category reflects an evolving understanding of the importance of specifically addressing fraud within an organization's internal control system.

The COSO Report Identified Five Interrelated Components of Internal Control