What does COSO Internal Control - Integrated Framework mean on the CPA exam?
COSO Internal Control - Integrated Framework. The reference model for internal control: five components and seventeen principles, all of which must be present and functioning for control to be effective.
Defined against COSO 2013.
Which CPA exam sections use COSO Internal Control - Integrated Framework?
COSO Internal Control - Integrated Framework appears in the ISC section of the CPA exam.
Other names for COSO Internal Control - Integrated Framework
COSO Internal Control
Related terms
- NIST Cybersecurity Framework: A voluntary framework of cybersecurity outcomes organized into functions.
- control environment: The governance and management functions and the attitudes, awareness, and actions of those charged with governance and management concerning the entity's system of internal control.
- general IT control: A control over the entity's IT processes that supports the continued effective functioning of information-processing controls and the integrity of information.
- applicable financial reporting framework: The framework management adopts for the statements, such as GAAP or a special purpose framework.
- information and communication: One of the five components of internal control: how an entity obtains the information it needs and gets it to the people who have to act on it.
- internal control over financial reporting: A process designed to provide reasonable assurance regarding the preparation of reliable financial statements.