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In its Framework Volume, COSO Control Activities “are the actions established through policies and procedures that help ensure that management’s directives to mitigate risks to the...
To embed, copy and paste the code into your website or blog: COSO was adopted in 1992 as a framework for basis to design and then test the effectiveness of internal controls. In 2010, it was deemed necessary to update this framework, to provide a more supportable approach when adversarial third parties challenged whether a company has effective internal controls (such as the SEC). While the COSO 2013 Internal Controls Framework is designed for financial controls, I believe that the SEC will use this to review a company’s compliance internal controls. Over this five-part series, I will be e...