Write a brief about control activities as a component of COSO framework.

Expert Solution

Control activities are one of the five component of internal control according to COSO framework and these control activities will be including various kinds of policies and procedures in order to help the business manage their activities so that they can design an internal control in order to provide reasonable assurance of the achievement of the objective.

Control activities will be including following things-

A. Following process and policies and procedures

B. Improving securities across the network

C. Conducting application change management

D. Performing activities like outsourcing

E. Planning business continuity and backups

These control activities will be regularly done in order to ensure the effectiveness of systems of internal control will be there, in order to provide reasonable assurance of achievement of objective of the company.

jeff jeffy answered 2 years ago

Explain COSO internal control-integrated framework? Give example of Saudi organizations that uses COSO framework? (write with...

Explain COSO internal control-integrated framework? Give example of Saudi organizations that uses COSO framework? (write with max 200 words with evidence in your own words) Accounting Information System

Describe five crucial components of the COSO Framework: Internal Environment (Control Environment), Risk Assessment, Control Activities,...

Describe five crucial components of the COSO Framework: Internal Environment (Control Environment), Risk Assessment, Control Activities, Information and Communication, and Monitoring. Explain what is included in the component and how that component impacts the rest of the internal control system (i.e., the other four components). Please help me to answer this question.

What is COSO? Describe the five elements of COSO's Internal Control - Integrated framework. Provide an...

What is COSO? Describe the five elements of COSO's Internal Control - Integrated framework. Provide an example of each of those components and explain why they are important in providing "Reliable Financial Reporting" for a company.

Gun control issue write a brief essay as to what is important to you about this...

Gun control issue write a brief essay as to what is important to you about this issue, and WHY. If this means you must consult a news broadcast, please do so.

Explain the following COSO framework components: a. internal environment

Explain the following COSO framework components: a. internal environment b. objective setting c. event identification d. risk assessment e. risk response f. control activities g. information and communication h. monitoring

Write a brief note on COSO-BASED AUDITING and PERFORMANCE-BASED AUDITING and how these two are different...

Write a brief note on COSO-BASED AUDITING and PERFORMANCE-BASED AUDITING and how these two are different from RISK-BASED AUDITING?

Several categories of control activities are identified in the chapter using the following framework: A. Authorization...

Several categories of control activities are identified in the chapter using the following framework: A. Authorization B. Performance reviews C. Information-processing controls C1. IT general controls C2. IT application controls C3. IT-dependent manual controls D. Physical controls E. Segregation of duties Following are specific control procedures prescribed by Trusty Inc., a public company: The software application must match information from a vendor's invoices with information from receiving and information from the purchase order before a check is issued. Two authorized...

Then for each circuit component tested, write a brief analysis of the component. Explain how you...

Then for each circuit component tested, write a brief analysis of the component. Explain how you know whether it is "ohmic" or not. Report anything else you find interesting. If it is "ohmic," then attach the additional V –vs- I plot and report here the value of the resistance, as a confidence interval. Attach more paper if needed. Testing Ohms Law Component 1: Lamp Component 2: Resistor Component 3: LED Component 4: Diode

for each circuit component tested, write a brief analysis of the component. Explain how you know...

for each circuit component tested, write a brief analysis of the component. Explain how you know whether it is "ohmic" or not. Testing Ohms Law Component 1: Lamp Component 2: Resistor Component 3: LED Component 4: Diode Please explain why it is ohmic or not

For each of the following three control activities, write a likely test of control that the...

For each of the following three control activities, write a likely test of control that the auditor would perform (be specific in the test you write). A sale is recorded only when a shipment has been made. A manager must authorize all sales returns that are greater than $1,000. Cash disbursement in the Disbursements Journal must be accompanied by supporting documents: purchase order, receiving document, and vendor invoice.

Question