Margaret Kotys Assignment 7.docx - Margaret Kotys Assignment 7 1 Sarbanes-Oxley Act has created additional layers and tasks for auditors to evaluate

Margaret Kotys Assignment 7.docx - Margaret Kotys...

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Margaret Kotys Assignment 7 1. Sarbanes-Oxley Act has created additional layers and tasks for auditors to evaluate. Conversly, it has created better transparency, segregation of duties and corporate policies regarding the ways the behave when it comes to their business practices. 2. The objectives of COSO ERM framework are, “to identify potential events that my affect the entity, and management risk to be within the risk appetite, to provide reasonable assurance regarding the achievement objectives.” There are eight components of the COSO ERM framework, they are: Internal Environment, Objective setting, Event identification, Risk assessment, Risk response, Control activities, Information and communication, and monitoring. 3. The ERM system provides for additional and different functions than the traditional Internal control software. COSO needed to expand in the market and provide services that other
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