Both_______ and _______ stress the concept of self-assessment and responsibility of management in maintaining and monitoring the internal control environment. The primary goals of maintaining the effectiveness and efficiency of operations, ensuring the reliability of financial reporting and complying with applicable laws and regulations, are the same for both:

Question

Quizplus · Accepted Answer

Both COSO and CoCo frameworks emphasize self-assessment and management's responsibility in maintaining and monitoring internal controls, with similar goals regarding operations, financial reporting, and compliance.

Both_______ and _______ Stress the Concept of Self-Assessment and Responsibility

Both_ and _ Stress the Concept of Self-Assessment and Responsibility