Which COSO Internal Control-Integrated Framework essential component of an effective internal control system includes the accounting system for identifying, recording, processing, and reporting transactions and financial data?
A)Monitoring
B)Information and Communication
C)Control Activities
D)Control Environment

Question

Quizplus · Accepted Answer

Information and Communication is the essential component of an effective internal control system that includes the accounting system for identifying, recording, processing, and reporting transactions and financial data. This component ensures that information is captured and communicated to appropriate parties in a timely and accurate manner.

Which COSO Internal Control-Integrated Framework Essential Component of an Effective