Corporate Governance

Step 4 – Information & Communication: The Nervous System of COSO

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Step 4 – COSO Information and Communication If risk assessment is the radar and control activities are the brakes and steering wheel, information and communication are the nervous system of the organization. They transmit signals, coordinate action, and ensure the entire body responds coherently to challenges. Without reliable nerves, even the strongest muscles and sharpest … Read more

Step 1 – Establishing a Robust Internal Control Framework (The Control Environment)

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Executive summary – Step 1 COSO Control Environment Topics hide Executive summary – Step 1 COSO Control Environment Key Elements of the Control Environment 1. Integrity and Ethical Values 2. Board of Directors and Audit Committee Oversight 3. Organizational Structure and Accountability 4. Commitment to Competence 5. Human Resource Policies and Enforcement Why the Control … Read more

COSO Internal Control Framework: Lessons from Global Corporate Failures

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COSO Internal Control Framework is globally recognized as the leading standard for designing, implementing, and evaluating internal control systems. Since its initial release in 1992, and especially after its 2013 revision, the framework has provided boards, executives, and auditors with a consistent structure to assess and strengthen governance, risk management, and compliance. The framework identifies … Read more