48. COSO has an exposure draft for five risk components. Which of the following has a counterpart to the Internal Control System’s Control Environment? Group of answer choices Risk Information, Communication, and Reporting Monitoring Enterprise Risk Management Performance Risk in Execution None of the choices Risk, Strategy, and Objective Setting

48. COSO has an exposure draft for five risk components. Which of the following has a counterpart to the Internal Control System’s Control Environment? Group of answer choices Risk Information, Communication, and Reporting Monitoring Enterprise Risk Management Performance Risk in Execution None of the choices Risk, Strategy, and Objective Setting

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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32. The internal audit activity must evaluate risk exposures relating to the organization’s governance, operations, and information systems regarding the Group of answer choices Effectiveness and efficiency of operations and programs Achievement of the organization’s strategic objectives Safeguarding of net assets Reliability and integrity of financial and operational information
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The combination of inherent risk and control risk refers to: * Detection risk Audit risk Risk of material misstatement Engagement risk None of the above
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