6.05: Difference between revisions
From Corrective Action Plan AZ
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'''Principle 6 - Define Objectives and Risk Tolerances''' | '''Principle 6 - Define Objectives and Risk Tolerances''' | ||
'''Attribute 6.05''' - | '''Attribute 6.05''' -Management considers external requirements and internal expectations when defining objectives to enable the design of internal control. Legislators, regulators, and standard-setting bodies set external requirements by establishing the laws, regulations, and standards with which the entity is required to comply. Management identifies, understands, and incorporates these requirements into the entity's objectives. Management sets internal expectations and requirements through the established standards of conduct, oversight structure, organizational structure, and expectations of competence as part of the control environment. | ||
Revision as of 19:24, 15 August 2026
Risk Assessment
Principle 6 - Define Objectives and Risk Tolerances
Attribute 6.05 -Management considers external requirements and internal expectations when defining objectives to enable the design of internal control. Legislators, regulators, and standard-setting bodies set external requirements by establishing the laws, regulations, and standards with which the entity is required to comply. Management identifies, understands, and incorporates these requirements into the entity's objectives. Management sets internal expectations and requirements through the established standards of conduct, oversight structure, organizational structure, and expectations of competence as part of the control environment.
