Various parties responsible for and affected by internal control will also be discussed. THE COSO MODEL In the United States many organizations have adopted the internal control concepts presented in the report of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). Published in 1992, the
QUESTION (2) (b) – Using examples outline the general framework of internal controls that must be used in organizations (25 marks) There are several frameworks of internal control, ranging from the Sarbanes-Oxley Act, the Turnbull Guidance, and the COSO and COCO frameworks. However, most of these frameworks have common components and the general framework that must be used in most organizations can therefore be summarized in four stages: • Risk assessment. • Control environment and control activities
ACC621 Midterm review Internal auditing is an independent objective assurance and consulting acitivity designed to add value and improve an organizations operations. Adding value is provided by improving opportunities to achieve organizational objectives identifying operational improvement reducing risk through exposure through both assurance and consulting. Auditing has its key components - accomplish objectives -evaluate and improve effectiveness of risk management -assurance and consulting
≈√ F M A G u i d e l i n e s on Operational Risk Management These guidelines were prepared by the Oesterreichische Nationalbank in cooperation with the Financial Market Authority Published by: Oesterreichische Nationalbank (OeNB) Otto-Wagner-Platz 3, 1090 Vienna, Austria Austrian Financial Market Authority (FMA) Praterstraße 23, 1020 Vienna, Austria Produced by: Oesterreichische Nationalbank Editor in chief: Günther Thonabauer, Communications Division (OeNB) Barbara Nösslinger
COBIT 3rd Edition ® Framework July 2000 Released by the COBIT Steering Committee and the IT Governance InstituteTM The COBIT Mission: To research, develop, publicise and promote an authoritative, up-to-date, international set of generally accepted information technology control objectives for day-to-day use by business managers and auditors. AMERICAN SAMOA ARGENTINA ARMENIA AUSTRALIA AUSTRIA BAHAMAS BAHRAIN BANGLADESH BARBADOS BELGIUM BERMUDA BOLIVIA BOTSWANA BRAZIL BRITISH VIRGIN
K e llo g g Co m pa n y 2009 annual report strength of The ® Sustainable DePenDAble 11 Leadership Financials/Form 10-K Brands and Trademarks 1 Selected Financial Data 12 Financial Statements 27 ™ strength of the ™ Table of ConTenTs 4 Financial Highlights 6 Letter to Shareowners Management’s Discussion & Analysis 13 Notes to Financial Statements 31 Shareowner Information and ™ PeRFoRmAnCe ™ FoR moRe thAn A CentuRy, Kellogg Company has been dedicated