The Seventeen Principles of Internal Control Under COSO:2013

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The Seventeen Principles of Internal Control Under COSO:2013

8/15/2013
The seventeen principles of internal control articulated in COSO: 2013 Internal Control - Integrated Framework are listed below. These principles were inherent in, although not explicitly stated in, the 1992 COSO framework framework, and embodied within the five core components of internal control (control environment, risk assessment, control activities, information and communication, and monitoring), which are carried forward from COSO's 1992 framework.
 
1.Demonstrates commitment to integrity and ethical values
2.Exercises oversight responsibility
3.Establishes structure, authority and responsibility
4.Demonstrates commitment to competence
5.Enforces accountability 
6.Specifies suitable objectives
7.Identifies and analyzes risk
8.Assesses fraud risk
9.Identifies and analyzes significant change 
10.Selects and develops control activities
11. Selects and develops general controls over technology
12.Deploys through policies and procedures
13.Uses relevant information
14.Communicates internally
15.Communicates externally
16. Conducts ongoing and/or separate evaluations
17. Evaluates and communicates deficiencies


Source: COSO: 2013