COSO's 2013 Internal Control - Integrated Framework does NOT include the following as one of the key components of internal control systems: a) Control Activities b) Risk Assessment c) Strategy d) Monitoring

COSO's 2013 Internal Control - Integrated Framework does NOT include the following as one of the key components of internal control systems: a) Control Activities b) Risk Assessment c) Strategy d) Monitoring

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter3: Internal Control Over Financial Reporting: Responsibilities Of Management And The External Auditor

Section: Chapter Questions

Problem 32CYBK

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Question

COSO's 2013 Internal Control - Integrated Framework does NOT include the following as one of the key components of internal control systems:

a) Control Activities

b) Risk Assessment

c) Strategy

d) Monitoring

Processes and procedures involved in achieving the organizational goals and objectives for the daily operations of a company. Control systems involve all the operational control systems, their implementation, and strategic control processes.

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