COSO Model for Internal Control (II)

Mirela Păunescu
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Mirela Păunescu: Bucharest University of Economic Studies

CECCAR Business Review, 2020, vol. 1, issue 2, 40-46

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.

Keywords: control environment; risk assessment; control activities; information; communication; monitoring (search for similar items in EconPapers)
JEL-codes: G39 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:ahd:journl:v:1:y:2020:i:2:p:40-46

DOI: 10.37945/cbr.2020.02.05

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