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The 17 COSO: internal control principles (control environment principles 2…
The 17 COSO: internal control principles
risk assessment principles 6: specifying appropiate objectives
risk assessment principles 8: evaluating fraud risks
risk assessmentprinciples 7: identifying and analyzing risks
control environment principles 5: holding people accountable
information and commuication principles 14: internal communication
internal control communication beynd normal channels
methods of communication
internal control communication
information and commuication principles 17: communnicating internal control deficiencies
information and commuication principles 15: external communication
information and commuication principles 13: using relevant, quality information
information from relevant resources
processing data through information systems
control environment principles 2: role of the boards of directors
apply relevant expertise
operate indeppendently
establish oversight responsibilities
provide oversight for the system of internal control
control environment principles 1: integrity and ethical values
affirming adherence to the code of ethics
code violations and corrective actions
control environment principles 3: authority and responsibility needed
COSO internal control framework principles
control activities principle 11: selecting and developing technology controls
control activities principle 12: policies and procedures
elements
location and applicability
roles and responsibilities
policy purpose
principle calls
perform using competent personnel
perform in a timely manner
establish responsibility and accountability for executing policies and procedures
take corrective actions when appropiate
establish policies and procedures to support the deployment of management's directives
reasses policies and procedures
control activities principle 10: selecting control activitiesthat mitigate risks
Monitoring principles 16: internal control evaluations
risk assessment principles 9: identifying changes affecting internal controls
control environment principles 4: commitment to a competent workforce