Why was the original 1992 COSO - Integrated Control framework updated in 2013?
A)Congress required COSO to modernize.
B)U)S.stock exchanges required more disclosure.
C)As an effort to more effectively address technological advancements.
D)As an effort to comply with the Information System Audit and Control Association requirements.

Question

Quizplus · Accepted Answer

The original 1992 COSO framework was updated in 2013 as an effort to more effectively address technological advancements. The update reflects changes in the business environment, new governance expectations, and shifting stakeholder needs. Congress did not require the update, and neither did the US stock exchanges. While the Information System Audit and Control Association recommended the use of the COSO framework, it was not the reason for the update.

Why Was the Original 1992 COSO - Integrated Control Framework