Question

The study done by the Committee of Sponsoring Organizations (COSO) on financial statement frauds that occurred during the period from 1987-1997 had many key findings. Which of the following is NOT one among them?

Answer 1

Answer:

Most of these firms had audit committees that met at least four times a year.

Explanation:

COSO stands for Committee of Sponsoring Organization, which is an organization that is dedicated to offering the thought of guidance as well as leadership on the fraud deterrence, internal control and management of  enterprise risk.

From the findings which is not found as fraud is that the most of the firms or businesses had committees of audit which met at least 4 times a year.