The COSO report, Internal Controls -- Integrated Framework, identified interrelated components of internal control.Which of the following is not one of those components?
A)Monitoring
B)Risk assessment
C)Control activities
D)Enterprise risk management

Question

Quizplus · Accepted Answer

The COSO report identifies five components of internal control: control environment, risk assessment, control activities, information and communication, and monitoring. Enterprise risk management (ERM) is an expanded approach that integrates risk management into an organization's overall strategy and decision-making processes. While related to internal control, ERM goes beyond the scope of the COSO framework's components.

The COSO Report, Internal Controls -- Integrated Framework, Identified Interrelated