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COSO Model for Internal Control (I)
Number 1, January 2020 » Business strategy, risk and corporate governance
Abstract: The main purpose of internal control is to provide reasonable assurance regarding the achievement of the entity’s general objectives (regardless of whether the entity is a trading company or not). A core prerequisite of an effective internal control is to have clear objectives set by the company’s management.
Two internal control models have gained international recognition: the COSO Model and the CoCo Model. This article discusses the former.
Two internal control models have gained international recognition: the COSO Model and the CoCo Model. This article discusses the former.
Keywords:
control environment; risk assessment; control activities; information; communication; monitoring
Classification JEL: G39 | Pages: 22-30
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