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- Title
MONITORING AS A COMPONENT OF INTERNAL CONTROL SYSTEMS.
- Authors
IONESCU, LUMINIŢA
- Abstract
In 1992, The Committee of Sponsoring Organizations of the Treadway Commission (COSO) developed the Internal Control - Integrated Framework (the COSO Framework), consisting of five interrelated and equally important components. Four components relate to the design and operation of the system of internal control: control environment, risk assessment, control activities, and information and communication. The fifth component - monitoring - is designed to "ensure that internal control continues to operate effectively."1 This paper describes the auditor's objective in an audit of internal control over financial reporting.
- Subjects
INTERNAL auditing; COMMITTEE of Sponsoring Organizations of the Treadway Commission; RISK assessment; FINANCIAL statements; PUBLIC Co. Accounting Oversight Board; SULLIVAN &; Cromwell LLP
- Publication
Economics, Management & Financial Markets, 2011, Vol 6, Issue 2, p800
- ISSN
1842-3191
- Publication type
Article