Raamatukogu

COSO - Internal Control – Integrated Framework: 2013

The Framework is comprised of three volumes including the following:

Executive Summary – This provides a high-level overview intended for the board of directors, chief executive officer, and other senior management. The Executive Summary:

Lays out the definition, and limitations, of internal control, and the requirements for an effective system of internal control, including a description of the roles of components and principles.

Highlights several important enhancements and clarifications that are intended to ease use and application of the Framework.

Framework and Appendices – The Framework and Appendices sets forth the five components and seventeen principles of an effective system of internal control, illustrates many approaches and examples relating to entity objectives, and provides direction for all levels of management to use in designing, implementing and conducting a system of internal control, and in assessing its effectiveness. The Framework assists management, boards of directors, external stakeholders, and others interacting with the entity in their respective duties regarding an entity's system of internal control without being overly prescriptive. The Appendices provide additional reference material, including.