COSO Internal Control Framework -C2 Control Activities -Intangible Assets
Name
COSO Internal Control Framework -C2 Control Activities -Intangible Assets
Description
COSO - Integrated Internal Control Framework COSO CONTROL COMPONENT: CONTROL ACTIVITIES COSO CONTROL OBJECTIVE: OPERATIONS - Intangibles Assets. COSO ORGANIZATION LEVEL OF RESPONSIBILITY: BUSINESS UNITS AND ACTIVITY LEVEL
Following are the best practices or general control activities which may be implemented as is or these can be used to develop/ prepare organization specific control activities, policies and procedures. Procedural manuals may also be available at AuditNet.com and you may access/ download the templates subject to your membership subscription.
Control Objectives: 1) All valid goodwill and intangible asset balances are accurately recorded and appropriately presented. 2) Goodwill and intangible asset activity (acquisitions & disposals) are valued accurately and recorded in the appropriate period. 3) Goodwill and intangible asset amortization are valued and recorded appropriately.
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