Internal Controls and Fraud

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Twenty Years Latter • Business and Organizational Changes • Technology • Complex Transactions • Global • Stakeholders-Want More Assurance • Taxpayers • Shareholders • Owners 4
Mission of COSO Dedicated to providing thought leadership through the development of comprehensive frameworks and guidance on internal control, enterprise risk management, and fraud deterrence designed to improve organizational performance and oversight and to reduce the extent of fraud in organizations. 5
Page 1 and 2: COSO’s New Internal Control—Int
Page 3: Do You Remember COSO? • Committee
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 and 32: Framework and 17 Principals (conclu
Page 33 and 34: Roles and Responsibilities (cont)
Page 37 and 38: Roles and Responsibilities • Othe
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

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