Which of the following is TRUE regarding the components of the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Internal Control – Integrated Framework (the Framework)?
A.
The Framework identifies ten components of internal control that must all be in place for the internal control system to be effective.
B.
Determining the effectiveness of an organization's internal control system involves assessing whether all of the identified components are in place and functioning effectively.
C.
Determining the effectiveness of an organization's internal control system involves assessing whether the identified components meet minimum legal and compliance requirements.
D.
Independent oversight is one of the primary components of internal control identified in the Framework.
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