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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881

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Cornerstones of Financial Accounti...

4th Edition
Jay Rich + 1 other
ISBN: 9781337690881
Textbook Problem
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Brief Exercise 4-26 Components of Internal Control

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) discussed five components of internal control.

Required:

Define and discuss these five components of internal control.

To determine

Introduction:

This is a committee of Sponsoring Organization of the Treadway Commission (coso). This is also a model which is effected form the upper management and also lower management, and provided better management for business for achieved the target.

To choose:

Define and discuss these five components internal control.

Explanation

The five components as following:

  • Control environments
  • Provide integrity value and ethical values.

    Provide better organization structure for archives the targets.

    1. Risk assessment
    2. High level checks as internal control management

      Identity the risk and analysis

      Manage the risk for the future...

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