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There are five components of COSO's internal control framework. They are often referred to by...

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Accounting

  • There are five components of COSO's internal control framework. They are often referred to by the acronym C.R.I.M.E.
    • Control environment.
    • Risk assessment.
    • Information and communication.
    • Monitoring activities.
    • Existing control activities.
  • Find a news story or case where a company was impacted by a fraudulent event or an ethics violation. Explain where the internal controls of this company failed using the COSO C.R.I.M.E. framework.

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