BEC-Governance

Question 1

COSO 17 Principles of Internal Control

Answer 1

C.R.I.M.E Broken Down Further

Control Environment (5 Principles)
Risk Assessment (4 Principles)
Information and Communication (3 Principles)
Monitoring (2 Principles)
Control Activity (3 Principles)

Question 2

COSO 17 Principles of Internal Control

Control Environment (Name the 5 Principles)

Answer 2

Control Environment (5 Principles)
1. Tone at the Top
2. Board of Directors
3. Management
4. Competence
5. Accountability

Question 3

COSO 17 Principles of Internal Control

Risk Assessment (Name the 4 Principles)

Answer 3

Risk Assessment (4 Principles)
1. Objectives
2. Assessment
3. Fraud
4. Change management

Question 4

COSO 17 Principles of Internal Control

Information and Communication (Name the 3 Principles)

Answer 4

Information and Communication (3 Principles)
1. Quality
2. Internal
3. External

Question 5

COSO 17 Principles of Internal Control

Control Activity (3 Principles)

Answer 5

Control Activity (3 Principles)
1. Risk reduction
2. Technology controls
3. Policies

Question 6

COSO 17 Principles of Internal Control

Monitoring (2 Principles)

Answer 6

Monitoring (2 Principles)
1. Ongoing and periodic
2. Address deficiencies