Page 319 - COSO Guidance Book
P. 319
Summary
This chapter provided an overview of internal control considerations for smaller entities. Many of these
characteristics are appropriate for nonpublic companies and not-for-profit organizations. The cost-
benefit aspects of internal control were addressed. Efficiencies that can be gained by smaller companies
over internal control were discussed; these included risk assessment, financial reporting objectives, and
documentation.
© 2020 Association of International Certified Professional Accountants. All rights reserved. 10-11
