COSO CONTROL FRAMEWORK IN CORPORATE GOVERNANCE

Abstract

In corporate governance, control activities are of great diversity, depending on the entity, its organizational culture, organizational structure, number of activities, etc.; they are carried out throughout the organization, at all hierarchical levels and by all functions. So it can be said that there is no internal control or internal control system within an entity if there is no hierarchical level or subfunction/operation, control activities to avoid risks at those levels. The control environment is part of the institutional culture, influenced by the management style, the value system acquired by the employees, the people with professional competence and their integrity, the description of activities and procedures, the organizational structure, the separation of tasks, the IT, etc. and provides the framework in which the various forms of internal control are carried out. The internal control environment is one of the important elements that entities need, especially in corporate governance, to organize an effective internal control system. In this article I will analyze the conceptual framework on the COSO model in corporate governance.

Keywords

• corporate governance
• internal control
• internal audit
• auditors
• organization