Corp Governance

Question 1

What are the components of the coso internal control integrated framework?

Answer 1

1. Control environment
2. Risk assessment
3. Information & communications
4. Monitoring
5. Existing control activities

Question 2

What does an effective system of internal control require?

Answer 2

1. The use of judgement in sufficiency of controls
2. Applying the proper controls
3. Assessing the effectiveness of the system of internal controls