Computer Science
University of The Cumberlands Integration of COSO Framework Paper

University of the Cumberlands

Question Description

I need an explanation for this Computer Science question to help me study.

The COSO framework of internal controls is practiced within companies around the world. The objectives of the COSO framework are closely related to its five components. For this week’s activity, please discuss these five components of the COSO framework. Be sure to include each components’ impact on each of the COSO framework objectives. What do you feel an auditor would most be concerned with during an IT audit? Lastly, discuss suggestions for integrating COSO framework compliance into a company in which you are familiar. Need 2-3 Pages

Support your answers with the readings from the course and at least two scholarly journal articles to support your positions, claims, and observations, in addition to your textbook.

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Final Answer

Attached.

Running Head: INTEGRATION OF COSO FRAMEWORK

Integration of COSO Framework
Name:
Institution:
Date:

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INTEGRATION OF COSO FRAMEWORK

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The Committee of Sponsoring Organizations of the Tread way Commission, well known
as COSO, is an organization initiated by five private sectors. It focuses on providing quality
leadership by developing guidance and framework on internal control, risk management as well
as fraud deterrence. It has established a joint internal system control through which companies
can use to evaluate their control structures. The five supporting private sector organizations in
COSO include; American Accounting Association, Financial Executive International Institute of
Management Accounts, Institute of Internal Auditors and American Institute of Certified Public
Accountants. The five organizations work together to enhance the development of cohesive
guidance concerning internal control (Chiu & Wang, 2019). This paper seeks to explain the five
key components of COSO found in the framework of COSO and how they can be integrated to
be utilized in a company.
Five components of COSO
In an operative control system, there must be control over the environment. This is the
essential component that involves the people, structure and disci...

Boston College

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