ERP, Internal Controls and Business Processes Flashcards
1
Q
EVA Formula
A
After-tax operating income - (Total Assets x WACC)
2
Q
The ERM model is geared toward achieving which 4 main objectives?
A
Strategic, Operations, Reporting & Compliance
3
Q
5 major components of an internal control system
A
Control environment, risk assessment, info & comm, monitoring, & control activities
4
Q
5 components of the COSO ERM?
A
Governance & culture, strategy, performance, review & revision, & information communication & reporting
5
Q
Under COSO’s internal control framework, how many control principles are spread over the five major components?
A
17
6
Q
What agency did SOX establish?
A
The PCAOB which is in charge of overseeing, regulating, inspecting, and disciplining accounting firms in their roles as auditors of public companies
