B1 COSO Internal Controls

Question 1

Control Environment

Answer 1

Commitment to ethics and integrity
Board independence and oversight
Organizational structure
Commitment to competence
Accountability

Question 2

Risk Assessment

Answer 2

Specify objectives
Identify and analyze risks
Consider potential for fraud
Identify and assess changes

Question 3

Information and Communication

Answer 3

Obtain and use information
Internally communicate information
Communicate with external parties

Question 4

Monitoring Activities

Answer 4

Ongoing and/or separate evaluations
Communication of deficiencies

Question 5

Control Activities

Answer 5

Select and develop control activities
Select and develop technology controls
Deployment of policies and procedures