According to the Guidance on Criteria of Control (CoCo),control is effected by ________.
A)senior management
B)the board of directors
C)people throughout the organization
D)the audit committee

Question

Quizplus · Accepted Answer

CoCo guidance emphasizes that control is not limited to senior management or the board of directors, but rather it is a responsibility of people throughout the organization, including employees, managers, and supervisors at all levels. Therefore, choice C is the best answer. While senior management and the board of directors play an important role in implementing control mechanisms, it is the responsibility of everyone in the organization to ensure that proper control is exercised. The audit committee is also important in providing oversight and assurance of the effectiveness of control activities, but this does not necessarily mean that control is effected solely by them.

According to the Guidance on Criteria of Control (CoCo),control Is