Internal Controls Design & Evaluation

Required Inputs

• Organization: Company name, industry, size (revenue, headcount), and public/private status
• Scope: Full entity, specific process areas, or IT general controls
• Regulatory Context: SOX 302/404, SOC 1/2, regulatory exam, voluntary adoption
• Reporting Framework: US GAAP, IFRS, or other applicable standards
• Material Accounts: Key financial statement line items in scope
• Known Issues (optional): Prior deficiencies, auditor findings, management concerns
• Systems Environment: ERP, GL, and key financial applications in use

Execution Steps

1. COSO 2013 Internal Control Framework Assessment

Evaluate the organization against all 5 components and 17 principles of the COSO 2013 Integrated Framework. Each principle is scored as Present & Functioning (P), Present with Exceptions (E), or Not Present (N).

Component 1: Control Environment