Chapter 10 - Internal Controls COSO

N types of control activities n segregation of duties

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n Types of control activities: n Segregation of duties n Access vs. Authorization vs. Accounting n Design vs. Operations vs. Data Control n Physical controls – to protect assets and information n Proper authorization of transactions (general vs. specific) n Adequate documents and records n Independent checks on performance n Information processing controls – focus on control objectives
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+ Monitoring n Mechanisms/processes designed to monitor the effectiveness and efficiency (design and operations) of internal control, and report such that corrections can be
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  • Spring '08
  • control environment

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