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Practice CPA®CPA BAR Practice Exam 2Question 16

Hard1 markMultiple Choice

Area I: Business AnalysisBARArea ICOSO ERM

CPA · Question 16 · Area I: Business Analysis

Under the COSO Enterprise Risk Management (ERM) framework (2017), which component includes the principle 'Demonstrates Commitment to Core Values'?

Answer options:

A.

Governance and Culture

B.

Strategy and Objective-Setting

C.

Performance

D.

Review and Revision

How to approach this question

Associate 'Values', 'Ethics', 'Board Oversight' with Governance and Culture.

Full Answer

A.Governance and Culture✓ Correct

The Governance and Culture component consists of principles related to board oversight, operating structures, culture, and core values.

Common mistakes

Confusing Governance with Strategy.

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