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COSO Model for Internal Control (II)

Author

Listed:
  • Mirela PĂUNESCU

    (Bucharest University of Economic Studies)

Abstract

The main purpose of internal control is to provide reasonable assurance regarding the achievement of the entity’s general objectives (regardless of whether the entity is a trading company or not). A core prerequisite of an effective internal control is to have clear objectives set by the company’s management. Two internal control models have gained international recognition: the COSO Model and the CoCo Model. This article discusses the former.

Suggested Citation

  • Mirela PĂUNESCU, 2020. "COSO Model for Internal Control (II)," CECCAR Business Review, Body of Expert and Licensed Accountants of Romania (CECCAR), vol. 1(2), pages 40-46, February.
  • Handle: RePEc:ahd:journl:v:1:y:2020:i:2:p:40-46
    DOI: 10.37945/cbr.2020.02.05
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    More about this item

    Keywords

    control environment; risk assessment; control activities; information; communication; monitoring;
    All these keywords.

    JEL classification:

    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other

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