COSO Flashcards by Sophia Hourihan

Q

Nuemonic for internal control

A

Crime

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Q

C

A

Control environment

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Q

R

A

Risk assessment

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Q

I

A

Information & communication

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Q

M

A

Monitoring

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Q

E

A

Existing control activities

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Q

Control environment nuemonic

A

Eboca

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Q

Risk assessment nuemonic

A

Sici

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Q

Information & communication nuemonic

A

OIC

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Q

Monitoring activities nuemonic

A

Oc

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Q

Existing control activities nuemonic

A

SSD

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Q

E-Eboca

A

Ethical values and integrity (commitment)

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Q

B-eboca

A

Board independence & oversight

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Q

O-eboca

A

Organizational structure

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Q

C-eboca

A

Commitment to competence

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Q

A-eboca

A

Accountability

Q

S-sici

A

Specify objectives

Q

I-sici

A

Identify & analyze risks

Q

C-sici

A

Consider the potential for fraud

Q

I-sici

A

Identify & assess changes

Q

O- OIC

A

Obtain & use information

Q

I - OIC

A

Internally communicate information

Q

C- OIC

A

Communicate with external parties

Q

O- OC

A

Ongoing and/ or separate evaluations

Q

C-oc

A

Communication of deficiencies

Q

S-ssd

A

Select & develop control activities

Q

S-ssd

A

Select & develop technology controls

Q

D- SSD

A

Deploy through policies & procedures