Multiple Choice
The purpose of ________________ is to identify organizational risks, analyze their potential in terms of costs and likelihood of occurrence, and install those controls whose projected benefits outweigh their costs.
A) Internal controls
B) A control environment
C) Risk assessment
D) Management consultants
Correct Answer:
Verified
Correct Answer:
Verified
Q63: COBIT 5's principles guide effective management and
Q64: When assessing a company's internal control structure
Q65: Segregation of duties is a fundamental concept
Q66: Many organizations have an internal audit function
Q67: Both cash and credit customers are educated
Q68: The five components of internal control articulated
Q69: COSO did not change its definition of
Q70: Risk portfolio represents the amount and type
Q72: The 2013 COSO Report stresses that:<br>A)Internal control
Q73: The 2013 COSO Report identifies five components