Solin, Ebanks,Thorpe and Co, a professional group of auditors is preparing a proposal for their new...

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Solin, Ebanks,Thorpe and Co, a professional group of auditors is preparing a proposal for their new client Dabney media Technologies who has requested they audit internal controls of the company. Please address a letter to the board of directors of Dabney Media explaining the 5 components of the COSO internal controls framework, and support each explanation with an example of an element that makes up this control XXXXXXXXXXmarks for content, 4 for style)This should be a typed letter, roughly 500 words, double spaced, Times new roman font size 12.
	
Document Preview: Solin, Ebanks,Thorpe and Co, a professional group of auditors is preparing a proposal for their new client Dabney media Technologies who has requested they audit internal controls of the company.  Please address a letter to the board of directors of Dabney Media explaining the 5 components of the COSO internal controls framework, and support each explanation with an example of an element that makes up this control XXXXXXXXXXmarks for content, 4 for style)This should be a typed letter, roughly 500 words, double spaced, Times new roman font size 12.

David · Accepted Answer

COSO-INTERNAL FRAMEWORK. 
To  
The Directors of Dabney Media 
COSO is a body that exists for last 22 years and contains the guidelines that helps to evaluate the 
general factors that may cause an improper reporting and even to work on the different 
recommendations for the public corporate as well as the other auditor’s independent and the 
regulatory authorities.  
This a body that defines internal controls as a process affected by the board of directors of a 
particular company in order to have a reasonable assurance that the company will be able to achieve 
the objectives in the various areas like Effectiveness and efficiency of operations, reliability of the 
financial reporting done, compliance with the applicable COSO framework and lastly the internal 
controls enough for a company to operate. 
The five components of the COSO Internal control Framework are hereunder: 
 The Control Environment- This relates to the control consciousness that the people working in the 
organization are facing. This generally forms the basis for all the other controls that are to be 
followed.

Solin, Ebanks,Thorpe and Co, a professional group of auditors is preparing a proposal for their new client Dabney media Technologies who has requested they audit internal controls of the company....

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