BOOKKEEPING5 MIN READ
Sort Bookkeeping Controls by COSO Component
Map bookkeeping controls to COSO internal-control components.
Place each bookkeeping practice under the COSO component it best fits. Control environment Risk assessment Control activities Information and communication Monitoring Owner states that no personal expenses belong on the company card Bookkeeper identifies duplicate-payment risk before adding bill-pay automation Two-step approval for new vendor bank details Monthly close sheet with owner question deadline Controller reviews aged clearing accounts each month Policy defining who can approve refunds Exception report for transactions over $5,000
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