The accounting profession has accepted this report as the standard definition and description of internal control.
A)Sarbanes-Oxley Report
B)FCPA Report
C)ERI Report
D)COSO Report

Question

Quizplus · Accepted Answer

The COSO (Committee of Sponsoring Organizations) Report is the standard definition and description of internal control accepted by the accounting profession. The Sarbanes-Oxley Report and FCPA Report have specific focuses (on corporate governance and anti-corruption, respectively) and do not provide a comprehensive definition of internal control. The ERI (Environmental Resource Inventory) Report is not related to internal control or accounting.

The Accounting Profession Has Accepted This Report as the Standard