Which of the following statements is true? a. Both the SEC and the PCAOB require the use of the COSO framework. b. Both the SEC and the PCAOB require the COBIT framework. c. The SEC recommends COBIT, and the PCAOB recommends COSO.d. Any framework can be used that encompass all of COSO’s general themes. e. Both c and d are true.
Which of the following statements is true? a. Both the SEC and the PCAOB require the use of the COSO framework. b. Both the SEC and the PCAOB require the COBIT framework. c. The SEC recommends COBIT, and the PCAOB recommends COSO.d. Any framework can be used that encompass all of COSO’s general themes. e. Both c and d are true.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following statements is true?
a. Both the SEC and the PCAOB require the use of the COSO framework.
b. Both the SEC and the PCAOB require the COBIT framework.
c. The SEC recommends COBIT, and the PCAOB recommends COSO.
d. Any framework can be used that encompass all of COSO’s general themes.
e. Both c and d are true.
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