Page 287 - COSO Guidance Book
P. 287
Summary
This chapter defined and addressed the key concepts related to the monitoring activities component of
internal control contained in COSO’s 2013 Internal Control — Integrated Framework. It also provided
material to obtain an understanding of the monitoring activities component of internal control and the
related principles and points of focus. Examples illustrated select principles and points of focus
AU-C section 265, as it relates to the monitoring activities component of internal control, was reviewed.
Definitions and examples of control deficiency, significant deficiency, and material weakness in internal
control were provided.
© 2020 Association of International Certified Professional Accountants. All rights reserved. 7-17
