The primary purpose for the development of standards by the Criteria of Control Committee was to ________.
A)provide guidance for companies developing best practice control systems
B)provide systems criteria,similar to GAAP in accounting,for reporting on controls
C)provide detailed tests of controls for audits of financial statements
D)provide clarity on who is responsible for controls

Question

Quizplus · Accepted Answer

The Criteria of Control Committee developed standards to provide systems criteria, similar to GAAP in accounting, for reporting on controls. This suggests that the primary purpose was to establish a framework for consistent and reliable reporting on control systems, rather than to provide guidance, detailed tests, or clarity on responsibilities.

The Primary Purpose for the Development of Standards by the Criteria