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COSO-ICF-C3-Component 2 Control Activities Treasury-Treasury-Borrowings (June 2015)

Name

COSO-ICF-C3-Component 2 Control Activities Treasury-Treasury-Borrowings (June 2015)

Description

COSO - Integrated Internal Control Framework

COSO CONTROL COMPONENT: CONTROL ACTIVITIES
COSO CONTROL OBJECTIVE: OPERATIONS - Treasury - Borrowings.
COSO ORGANIZATION LEVEL OF RESPONSIBILITY: BUSINESS UNITS AND ACTIVITY LEVEL

Control Objectives:

  • Ensure that all debts correspond to valid liability of the organization. 
  • Ensure that all debts are accurately recorded in accordance with the terms and conditions. 
  • Ensure that interest is correctly calculated and recorded in the appropriate period. 
  • Ensure that repayment is made in accordance with the terms and complying with loan covenants. 
  • Ensure that all loan repayments are accurately recorded in an appropriate period. 

Standard (Non-IT) Audit Program

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