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Which is NOT one of the COSO five components?
AControl Environment
BInternal Audit Function
CRisk Assessment
DInformation & Communication
Answer & Solution
Correct answer: C. Risk Assessment
1. COSO components: Control Environment, Risk Assessment, Control Activities, Information & Communication, Monitoring.
2. Internal Audit Function is a Monitoring activity but not itself a component.
3. A common distractor.
_Source: ICAI BoS CA Final Paper 3, Ch 3 "Risk Assessment and Internal Control"_
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