Question: COSO developed two frameworks : the COSO 2013 internal control framework and the COSO ERM framework . Why did COSO develop the ERM framework and

COSO developed two frameworks : the COSO 2013 internal control framework and the COSO ERM framework . Why did COSO develop the ERM framework and what are the differences between the two frameworks?

"Accounting information system "

"please try to give me lengthy answer and from your own understanding "

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

COSO developed two frameworks: the COSO Internal Control framework 2.0 and the COSO ERM framework. Why did COSO develop the ERM framework? What are the differences between the two frameworks?

Two commonly used frameworks developed by COSO are COSO 2013 internal control framework and the COSO ERM 2017 framework. What are the differences between the two frameworks?

1. Based on SOX, which of the following sections is about internal controls? Multiple Choice a] 302 b) 906 c] 401 d) 4-04 2. SOX requires companies to use COSO or COSO ERM as the framework in...

Based on SOX, which of the following sections is about internal controls? Multiple Choice 401 404 o 302 906 Controls that are designed to prevent, detect, or correct errors in transactions as they...

Need multiple choice answers by noon November 20th ACCT 436 SECTION 7980 INTERNAL AUDITING EXAM 1 INSTRUCTOR: MR. STEVEN ULMER INSTRUCTIONS This is an open book exam. You can use any of the week 1-3...

Can you please help me with this exam. I need help answering the questions. see attach. Summer 2016 ACCT 436 6380 EXAM 1 Instructions: Exam 1 for ACCT 436 includes material covered during the first...

write a half page clear and concise summary of the article and what you learned new and gleaned on the article. The compliance revolution after the passage of the Sarbanes-Oxley Act of 2002 (SOX) was...

Assistance with internal auditing. 1. Which of the following would be least likely to be an audit comment from a risk management audit? A) There is insufficient integration of risk management into...

Need Help to solve each solution as follow: A fear of God The worship of one true God who directs our moral and ethical behaviors Act in accordance with the teachings in your religions holy book and...

1. Based on SOX, which of the following sections is about internal controls? a. 302 b. 401 c. 404 d. 906 2. SOX requires companies to use COSO or COSO ERM as the framework in evaluating internal...

Ricardo Windows specializes in making custom windows for high-end homes. Although the demand for custom windows fluctuates from year to year, the owner, Javier Ricardo, believes that it is in his...

Twelve tasks, with times and precedence requirements as shown in the following table, are to be assigned to workstations using a cycle time of 1.5 minutes. Two heuristic rules will be tried: (1)...

answer this Multiple Choice Question The number of shares issued represents the number of shares: O the company is allowed to sell O repurchased O sold O sold less repurchased

Firms become value driven by focusing on which of the following activities? ( Choose every correct answer. ) Sharing information Balancing customer benefits and costs Building relationships...

Read the sections on expectancy, equity and goal- setting theories of motivation: 1 Which theory, or combination of theories, is most helpful in explaining your reaction to the rewards your...

1 W hat are the different reasons that companies might have for initiating training? McDonalds, the fast food chain, employs around 67,000 people in the UK. Although some argue there is a negative...

1 What theories are implicit in these reward systems?