Internal Controls and Fraud

More documents

Recommendations

Info

Roles and Responsibilities • Who should be responsible? • Board of Directors, School Boards, City Council, County Commissioners, Owners • Overseeing system of internal control • Defines expectations • Integrity and Ethical Values • Transparency • Accountability • Objective • Form Subcommittees • Audit Committee 32
Roles and Responsibilities (cont) • Audit Committees • Audit and Risk Committee • Audit Committees request corrective and timely actions to issues • Should be independent from management • Interacts with external Auditors • Scope of Planned Audit Procedures • Results of Audit Procedures 33
Page 1 and 2: COSO’s New Internal Control—Int
Page 3 and 4: Do You Remember COSO? • Committee
Page 5: Mission of COSO Dedicated to provid
Page 8 and 9: Help For External Stakeholders •
Page 10: COSO’s Participants • Board Mem
Page 14 and 15: Core of Original Framework Remains
Page 16 and 17: (R)Risk Assessment • Definition-p
Page 18 and 19: (M) Monitoring Activities • Ongoi
Page 20 and 21: What This Framework Provides • Me
Page 22 and 23: Objectives • Framework provides f
Page 24 and 25: Wrapping Our Minds Around It! • T
Page 27 and 28: The Framework and 17 Principles •
Page 29 and 30: Framework and 17 Principals • Con
Page 31: Framework and 17 Principals (conclu
Page 35 and 36: Roles and Responsibilities (cont)
Page 37 and 38: Roles and Responsibilities • Othe
Page 39 and 40: Roles and Responsibilities (cont)
Page 41 and 42: What About Small Entities? • Fewe
Page 43 and 44: Solutions-Segregation of Duties •
Page 46: Component Evaluation Template 46
Page 50: Questions? 50

Internal Controls and Fraud

Create successful ePaper yourself

Delete template?

Save as template?