Glossary of Performance & Risk Management terms
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      « Compliance | Main | Computer Controls »
      Saturday
      Dec062008

      Component

      One of five elements of internal control. The internal control components are the control environment, risk assessment, control activities, information and communication, and monitoring.

      Source : COSO Integrated Internal Controls Framework

      There are eight enterprise risk management components: the entity’s internal environment, objective setting, event identification, risk assessment, risk response, control activities, information and communication, and monitoring.

      Source : COSO Integrated Risk Management Framework

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