About This Chapter
Risk/Control Frameworks in Auditing - Chapter Summary
The intention behind this chapter is to inform you of risk/control frameworks in auditing. This information will help you become an expert on the frameworks in auditing. This chapter contains these topics:
- How COSO and CoCo internal controls can be used in the auditing process
- Three objectives of an internal control system
- Concepts behind the CoCo framework
The lessons in this chapter will detail the necessary information you need to know about auditing and framework. Instructors who are professional and knowledgeable teach these lessons. If you find yourself really struggling to retain the lesson material, you can ask our instructors for assistance. They can answer any questions you may have about the material found in this chapter.
1. Risk/Control Frameworks in Auditing: Application & Examples
Risk and control frameworks help an organization achieve its objectives and ensure it is operating efficiently and effectively. Let's examine how control frameworks can be used by a government entity.
2. What is COSO Internal Control Framework? - Objectives & Components
Internal audit and compliance departments benefit from having industry-wide frameworks for conducting their enterprise risk assessment, internal control testing, and fraud deterrence. In this lesson, we discuss the most popular framework - COSO.
3. CoCo Internal Control Framework: Definition & Key Concepts
Management must ensure controls are in place to minimize risk and ensure financial reporting is reliable. Let's examine a control framework, CoCo, which can help with identifying controls.
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Other chapters within the CGAP Exam Study Guide - Certified Government Auditing Professional course
- Auditing Standards & Governance
- Government Auditing Practices: The Audit Function
- Types of Government Audit Services
- Process for Delivery of Audit Services
- Government Auditing Skills & Techniques
- Evaluating Quantitative & Qualitative Data
- Government Auditing: Financial Management
- Implications of Audit Service Delivery Methods
- Implications of Delivering Audit Services to Citizens
- Unique Characteristics of Human Resources Management
- Unique Purchasing & Procurement Requirements
- CGAP Exam Study Guide - Certified Government Auditing Professional Flashcards