The COSO framework treats internal control as a process designed to provide reasonable assurance regarding the achievement of objectives related to
A. Reliability of financial reporting.
B. Effectiveness and efficiency of operations.
C. Compliance with applicable laws and regulations.
D. All of the answers are correct.
Answer (D) is correct.
REQUIRED: The true statement regarding COSO's objectives in relation to internal control.
DISCUSSION: The COSO framework treats internal control as a process designed to provide reasonable assurance regarding the achievement of objectives related to reliability of financial reporting, effectiveness and efficiency of operations, and compliance with applicable laws and regulations.