COSO Cube Flashcards
1
Q
Why do we have internal control? Three objectives?
A
1) Operations
2) Reporting
3) Compliance with applicable laws and regulations
2
Q
Where do we have internal control?
A
Units and activities
3
Q
What is internal control? What are the five components?
A
1) Control environment
2) Risk assessment
3) Information and Communication
4) Monitoring
5) Control Activities
