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12 July, 08:31

After being caught, a criminal admits that he committed his crime was because corruption seemed commonplace in his organization including management's active and passive involvement. Which COSO component of internal control should the company fix to address this specific perception among employees?

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  1. 12 July, 09:48
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    Control environment

    Explanation:

    COSO model defines internal control as a process put in place by directors and management to ensure reasonable assurance of of strategic goals by aiming at effectiveness, efficiency and economic value of operations.

    COSO's five components are control environment, risk assessment, control activities, information and communication and monitoring.

    Of these components, control environment takes care of integrity and ethical values that addresses corruption practices in a business environment.
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