How to Comply With Sarbanes-Oxley Section 404: Assessing the Effectiveness of Internal Control

Chapter 2. Internal Control Criteria

CHAPTER SUMMARY Describe the COSO Internal Control Integrated Framework, which most likely will be the criteria used by entities to assess the effectiveness of their internal control. Summarize the value chain business activities approach for analyzing activity-level controls. Provide additional guidance on internal control considerations related to an entity's use of information technology, including the: Generally accepted information technology control objectives contained in the COBIT report Consideration of controls when an entity uses an outside service organization to process certain transactions Discuss how the COSO framework might be applied to disclosure controls and procedures.