Confidently Practice Online with Free CFE-Fraud-Prevention-and-Deterrence Exam Cram

Willow, Inc. has a complex organizational structure with many specialized departments. The structure of Willow, Inc. increases the likelihood that fraud will go undetected within the organization.

Professional auditing standards require that auditors incorporate an "element of unpredictability" in the selection of auditing procedures to be performed. 

Which of the following components of the Committee of Sponsoring Organizations of the Treadway

Commission’s (COSO) Enterprise Risk Management—Integrating with Strategy and Performance refers to an

organization’s ability to continually assess how well its enterprise risk management (ERM) capabilities and

practices have increased value over time and how they will continue to drive value for the organization?

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines____________ as

"a process, effected by an entity's board of directors, management, andother personnel, designed to provide

reasonable assurance regarding the achievement of objectives relating to operations, reporting, and

compliance."

Before buying a capital asset, an organisation should weigh the costs and benefits of the asset. What factors are included in this analysis? Select TWO that apply.