COSO Testing Template

• Internal Control has five main components. This document discusses

some of them.

• Control environment provides an atmosphere in which people conduct their activities and carry out their control responsibilities.
• Risk assessment is the component of the entity’s internal control that involves identifying and analyzing risks.
• Information and communication is the component of internal control that ensures that pertinent information is identified, captured, and communicated in a form and timeframe that enables people to carry out their responsibilities.
• Monitoring is the assessment of internal control performance over time.