Monday, April 26, 2010

What is INTERNAL CONTROL QUESTIONNAIRES?

An effective internal control system enables you to manage significant risks and monitor the reliability and integrity of financial and operating information. It also ensures that the audit committee acts as a powerful and proactive agent for corporate self-regulation. The Committee of Sponsoring Organizations of the Treadway Commission (COSO) developed the following questions to help senior executives and directors gain a better understanding of their organizations control systems.

What is INTERNAL CONTROL QUESTIONNAIRES?
sounds like a service control survey for a certain company
Reply:A questionnaire that companies spend too much money administering and when you take it they will use it against you if they need to.
Reply:ICQs are used by the departments of a company to test their business processes and to test their readiness for an audit. They usually consist of a list of questions designed to ascertain whether the practices and procedures necessary to carry out work in different areas are being adhered to.


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