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    The document discusses factors related to an organization's control environment for enterprise risk management. It emphasizes that establishing strong integrity, ethical values, and a code of conduct that is up-to-date, addresses important issues, and is regularly communicated to stakeholders helps set the proper tone at the top and sends a message about the organization's ethical standards. However, outdated guidance, failure to address key issues, or lack of ongoing communication about the code of conduct could signify an internal control deficiency.

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    warbaas
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    The document discusses factors related to an organization's control environment for enterprise risk management. It emphasizes that establishing strong integrity, ethical values, and a code of conduct that is up-to-date, addresses important issues, and is regularly communicated to stakeholders helps set the proper tone at the top and sends a message about the organization's ethical standards. However, outdated guidance, failure to address key issues, or lack of ongoing communication about the code of conduct could signify an internal control deficiency.

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    The document discusses factors related to an organization's control environment for enterprise risk management. It emphasizes that establishing strong integrity, ethical values, and a code of conduct that is up-to-date, addresses important issues, and is regularly communicated to stakeholders helps set the proper tone at the top and sends a message about the organization's ethical standards. However, outdated guidance, failure to address key issues, or lack of ongoing communication about the code of conduct could signify an internal control deficiency.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    7 views1 page

    Untitled

    Uploaded by

    warbaas
    The document discusses factors related to an organization's control environment for enterprise risk management. It emphasizes that establishing strong integrity, ethical values, and a code of conduct that is up-to-date, addresses important issues, and is regularly communicated to stakeholders helps set the proper tone at the top and sends a message about the organization's ethical standards. However, outdated guidance, failure to address key issues, or lack of ongoing communication about the code of conduct could signify an internal control deficiency.

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    of 1

    COSO ENTERPRISE RISK MANAGEMENT

    CHAPTER ONE

    Control Environment Factors:

    Integrity and ethical values “tone at the top”.

    Developed a strong code of conduct –that emphasizes integrity and ethical values.

    Stakeholders appear to follow that code-this sends strong messages that the enterprise has a good set
    of ethical values.

    Significant Internal Control Deficiency comes when the following are present:

    -out of date code of conduct.

    -code appears to be not addressing important issues facing the enterprise.

    -code not communicated to all stakeholders on a recurring basis.

    Poor moral guidance by senior management results in employees wrongdoing without the intention to
    deceive.

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