MGT 278 Define the COSO framework – Assignment Solution
Q1. Define the COSO framework. Based on the power point slides posted on the I-learn website and any other resource, explain how the COSO framework provides guidance for the Internal Audit profession. (Limit your answer to 4 pages each 1.5 spaced) Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Strategic objectives are those goals that management sets specifically related to stakeholder interests. Throughout this textbook, the term objectives will be used when discussing what an organization wants to achieve and the term strategy when discussing the way management intends to achieve those objectives.