Which of the following statements about the 2013 COSO IC component Monitoring is true?

Select one:

a. The scope of monitoring should be dictated by how managers assess the risk of an internal control not functioning as designed

b. Guidance on Monitoring Internal Control Systems (GMICS) suggests that the internal audit department should be in charge of reviewing internal controls every year

c. The design and operation of controls should be overseen preferably by top-level managers

d. Effective monitoring is a high-level, comprehensive review that is both risk-based and principles-based