Which of the following is an effective implementation of the information and communication component of COSO's Internal Control-Integrated Framework? a. The organization has one-way communication with parties external to the organization. b. The organization has a whistleblower function that allows parties internal and external to the organization to communicate concerns about possible inappropriate actions in the organization's operations. c. The organization has a robust process for assessing risks internal and external to the organization. d. The organization builds in edit checks to determine whether all purchases are made from authorized vendors. e. All of the above.

Question

Uriel Moyer

Business

15 January, 16:40

Which of the following is an effective implementation of the information and communication component of COSO's Internal Control-Integrated Framework? a. The organization has one-way communication with parties external to the organization. b. The organization has a whistleblower function that allows parties internal and external to the organization to communicate concerns about possible inappropriate actions in the organization's operations. c. The organization has a robust process for assessing risks internal and external to the organization. d. The organization builds in edit checks to determine whether all purchases are made from authorized vendors. e. All of the above.

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Sable · Answer 1

b. The organization has a whistleblower function that allows parties internal and external to the organization to communicate concerns about possible inappropriate actions in the organization's operations.

Explanation:

The information and communication component of COSO's Internal Control-Integrated Framework will best be implemented by having a whistle blower function that will allow proper feedback from employees and give insights to level of compliance to laid down internal control processes.

Whistle blowing is the reporting of unethical practices in an organisation's operations. Reporting could be done by both internal and external parties.