A company that retains a CPA with the appropriate knowledge, skills and abilities to prepare timely and effective financial reporting is applying the ideas from which principle of effective internal control over financial reporting?
　　a. Management philosophy and operating style.
　　b. Human resources.
　　c. Financial reporting competencies.
　　d. Integrity and ethical values.
 
　　Explanation
　　Choice "c" is correct.
　　The financial reporting competencies principle of the control environment component of internal control integrated framework suggests stronger controls and encourages the company retains qualified personnel to handle financial reporting.
　　Choice "d" is incorrect.
　　The integrity and ethical values principle of the control environment component of internal control integrated framework suggests stronger controls with high standards of ethical conduct for top management, but does not address retention of qualified personnel to handle financial reporting.
　　Choice "a" is incorrect.
　　The management philosophy and operating style principle of the control environment component of internal control integrated framework suggests strong controls and encourages management's attitudes to be congruent with strong financial controls, but does not address retention of qualified personnel to handle financial reporting.
　　Choice "b" is incorrect.
　　The human resources principle of the control environment component of internal control integrated framework suggests strong controls and encourages human resources policies to be compatible with effective financial reporting, but does not address retention of qualified personnel to handle financial reporting.
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