COSO Model for Internal Control (I)

COSO Model for Internal Control (I)

Number 1, January 2020  »  Business strategy, risk and corporate governance

Associate Professor Mirela Păunescu, PhD
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.
Classification JEL: G39 | Pages: 22-30

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