Short Answer-Accounting

Primary Task Response: Within the Discussion Board area, write 400–600 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has developed a comprehensive framework for assessing the quality of a company’s internal controls with regard to their financial reportings. This organization is made up of representatives from the AICPA, the IIA, IMA, and other leading authorities in the field. 

  • Using the framework issued by COSO (found in your textbook, or click here to follow the link to the Web site), discuss the components and how they fit together to create a continuous internal control process.
  • Write a minimum of 2 paragraphs.
  • Then, choose a control that you find interesting, and do additional research to thoroughly explain it to your peers.
  • Be sure to share your references.