Definition of internal control as outlined by coso

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Reference no: EM13745905

Do you agree with the definition of internal control as outlined by COSO? Why or why not?

Paragraph 13 states that the definition of internal control is intentionally broad. Do you agree with COSO’s decision to define “internal control” broadly for purposes of developing a comprehensive framework? Why or why not?

Is the decision to define “internal control” broadly consistent with U.S. GAAP’s historic emphasis on rules, rather than principles, of governance? Why or why not?

Reference no: EM13745905

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