Question

The following is a quote from the Executive Summary on COSO’s Web site.

“The five components operate together in an integrated manner. “Operating together” refers to the determination that all five components collectively reduce to an acceptable level, the risk of not achieving an objective. Components should not be considered discretely; instead, they operate together as an integrated system. Components are interdependent with a multitude of interrelationships and likages among them, particularly the manner in which principles interact within and across components.”

In your own words, describe how two of the components of COSO’s Internal Control Integrated Framework (Choose among Control Environment, Risk Assessment, Information and Communication, Monitoring and Control Activities) operate together.

Your initial post should contain at least 8 sentences. Your reply to classmates should contain at least 4 sentences.

Answer 1