The Committee of Sponsoring Organizations (COSO) was established by the Treadway Commission to work on a common definition for internal control. The Control Objectives for Information and Related Technology (COBIT) was a project undertaken by the Information Systems Audit and Control Foundation that involved an extensive examination of the internal control area.

Explain how to conduct a preliminary search and:

• Discuss why these two committees are so important.
• Discuss components of the internal control system. In your opinion, which component is the most important and why?
• Why are accountants so concerned about their organization having anefficient and effective internal control system?

Answer rating: 100% (QA)

Answer To conduct a preliminary search on the Committee of Sponsoring Organizations COSO and Control Objectives for Information and Related Technology COBIT you would typically start by accessing repu... View the full answer