How COSO main components are relevant to payroll

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Reference no: EM132332423

Question: The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is a joint initiative to combat corporate fraud. In 1992, COSO released its "Internal Controls - Integrated Framework." The COSO Internal Control Framework creates a foundation of internal controls.

Read "Chapter 4: Effective Internal Controls Over Payroll," and discuss how COSO's 5 main components are relevant to payroll.

Please keep in mind the 5 main components are the following:

• Control environment

• Risk assessment

• Control activities

• Information and communication

• Monitoring

Reference no: EM132332423

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