COSO Committee of Sponsoring Organizations of the Treadway Commission
To assess whether the system of internal control is effective, management must consider whether each of the components is present and functioning and whether the components are operating together in an integrated manner. Management needs to determine, using judgment, whether any internal control deficiencies or combination of deficiencies, when considered collectively across the components, represent a major deficiency to determine if the components are operating together in an integrated manner.
Generated November 10, 2014 20:30:53 |