Page 215 - COSO Guidance Book

Chapter 4

The Risk Assessment Component

of Internal Control

Learning objectives

 Recall key points related to the risk assessment component of internal control and its related
principles and points of focus, including examples.

 Identify applicable professional standards (GAAS) that address the risk assessment component of
internal control.

 Recall the incentives, pressures, and opportunity for financial reporting fraud factors.

© 2020 Association of International Certified Professional Accountants. All rights reserved. 4-1