L08 Intro to Internal Controls BB version

L08 Intro to Internal Controls BB version - Introduction to...

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Introduction to Internal Control Systems Spring 2011
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COSO (1992) Internal Control consists of the policies and procedures implemented by a firm to meet the following control objectives: _______________________ _______________________ _______________________ _______________________
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Other Authorities ____________________ Act of 2002 Requires management to maintain IC and auditors to audit IC ____________________ Provides a framework for best practices related to IT controls
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COSO Cube How does this differ from p. 117?
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Classes of Control Activities _________ Prevent Detect Correct ___________ Pervasive Specific General Application IPO • ______ ______ ______ The policies and procedures implemented by an organization to achieve its control objectives ___________ Manual Automated
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What is the difference between pervasive and specific controls? F/S assertions _____________________ _____________________ _____________________ _____________________ _____________________
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L08 Intro to Internal Controls BB version - Introduction to...

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