The framework for designing an internal control system is provided by theMultiple choice question.Financial Accounting Standards Board.Public Companies Accounting Oversight Board (PCAOB).Committee of Sponsoring Organizations (COSO) of the Treadway Commission.Securities and Exchange Commission Act of 1934

Which of the following are publicly available framework used in designing internal control:Question 2AnswerSelect one:a.legislation or regulationb.COSO and COBITc.industry standardd.all of the options are correct

Which COSO Internal Control-Integrated Framework essential component of an effective internal control system includes the accounting system for identifying, recording, processing, and reporting transactions and financial data?Select answer from the options belowMonitoringControl EnvironmentRisk AssessmentInformation and Communication

Internal controls are concerned withGroup of answer choicesonly manual systems of accounting.the extent of government regulations.safeguarding assets.preparing income tax returns.

Who is responsible for establishing and maintaining the internal control system?Select one:a.the accountantb.the internal auditorc.managementd.the external auditor

The components of internal control areMultiple choice question.required by the SEC.based on the ethical tone set by management.required by the American institute of Certified Public Accountants.required by state law.