BEC HELP

  • Creator
    Topic
  • February 28, 2017 at 4:44 pm #1500843
    CPA_help
    Participant

    Can someone please explain the difference between control activity and monitoring in the COSO framework. I feel like these two concepts are very similar and I keep mixing them up! Thank you.

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    Replies
  • February 28, 2017 at 6:59 pm #1500976
    joonpark1212
    Participant

    A keyword for monitoring would be ‘update'. While control activity consists of segregation of duties, custody, etc.

    February 28, 2017 at 7:24 pm #1500999
    Anonymous
    Inactive

    Internal Control Components

    February 28, 2017 at 7:28 pm #1501000
    tud20551
    Participant

    Monitoring does separate evaluations like internal audit and reports deficiencies. Control activities is more about detecting or preventing. As above segregation of duties is big with it. I should probably study more in this area.

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