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Please do this: Case Study: COSO Components Principles.COSO principles are important factors in assuring a company has a reasonable structure in decision-making areas. In addition, COSO provides a...

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Please do this: Case Study: COSO Components Principles.COSO principles are important factors in assuring a company has a reasonable structure in decision-making areas. In addition, COSO provides a framework upon which companies can work. It does not provide a functioning process—processes are established based on the company's needs, culture, and environment. Aytaç and Çabuk XXXXXXXXXXdiscuss 17 COSO components in the Assessment of the Effectiveness of Internal Control System and a Case Study. For a company of your choice, choose four components and establish processes to apply them. The submission should be 1-2 pages long. Use two sources to support your writing. Choose sources that are credible, relevant, and appropriate. Cite each source listed on your source slide at least one time within your assignment.
Answered 1 days After Apr 11, 2024

Solution

Khushboo answered on Apr 13 2024
6 Votes
Company selected
Microsoft Corporation is a US based technology company which is headquartered at Redmond, Washington. The company was founded in 1975 and Mr. Bill Gates and Paul Allen were the founders of the company. The major products of the entity are computer hardware, consumer electronics, cloud computing, video games and internet. The company is having strong internal control framework and having more than 200000 employees across the globe.
COSO Framework
COSO framework is a industry based model which is used for evaluation and implementation of internal control system within organizations. COSO is a private sector organization that develops guidance and framework on internal controls, financial reporting, organizational governance and risk management.
Components of COSO framework and its application on Microsoft
COSO framework is having 17 components but there are 4 major components which plays an important role to evaluate the effectiveness of internal controls. The detailed analysis of 4 components and its implications on Microsoft Corporation is as below:
Component 1: Control environment
Under control environment, the effectiveness of policies and procedures are evaluated. Under this framework it is evaluated that what kind of effective tone has been set by the management that everyone is ensuring that internal controls are being implemented effectively. The management set the processes in such a manner that control environment is set up by the management in effective manner so that all other components works effectively. In...
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