ACCT6600 Waldern University Creating an Internal Environment Framework Paper

An organization’s internal environment is responsible for generating reliable financial reporting and complying with laws and regulations. Internal business process improvement methods establish best practices and strengthen corporate governance and risk management. Consider the COSO framework using the PowerPoint presentation and the ERM Framework graphic in this week’s Resources. Write a 1-2 page paper using an internal environment that you are familiar with and complete the COSO framework for this environment as outlined below. For example, an internal environment might be the development of an organization’s incentive systems.
State the control objectives
Identify the risk sources
Perform a risk assessment
Develop a risk response
Determine the control activities
Provide a method of informing and communicating the results
Discuss the process that is used for monitoring the information
Your 1- to 2-page paper should reflect the application of the Resources presented this week, as well as knowledge gained from previous weeks’ Required or Optional Readings.
Be sure to support your work with specific citations from this week’s Learning Resources and any additional resources.

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