Bec (Internal Control)

Front 1

Objectives of Internal Control

Back 1

O. perational objectives
R. eporting objectives
C. ontrol objectives

Front 2

Operating Objectives

Back 2

Effectiveness and Efficency of an entity's operations. Including performance goals as well as securing company assets against potential losses.

Front 3

Reporting Objectives

Back 3

Pertain to the reliability timeliness and transparency of an entity's external and internal financial and non financial reporting.

Front 4

Compliance Objectives

Back 4

established to ensure the entity is adhering to all applicable laws and regulations

Front 5

Components of Internal Control

Back 5

C. ontrol Environment
R. isk assessment
I. nformation and communication
M. onitoring
E. xisting Control Activities

Front 6

Control Environment

Back 6

Commitment to Ethics and integrity
Brd of Independence and Oversight
Organizational Structure
Commitment to competence
Accountability

Hint 6

5

Front 7

Risk Assessment

Back 7

specify objectives
identity and analyze risks
consider potential for Fraud
identify and assess changes

Front 8

Information and Communication

Back 8

Obtain and use info.
internally communicate information
communicate with external parties

Front 9

Monitoring Activities

Back 9

Ongoing and/or separate evaluations
Communication of deficiencies

Hint 9

2

Front 10

Existing Control Activities

Back 10

Select and Devolop Control activities

Select and Develop tech. controls

Development of Policies and procedures