Read the executive summary of Internal Control – Integrated Framework by the Committee
of Sponsoring Organizations (COSO) of the Treadway Commission (see
http://www.coso.org/publications/executive_summary_integrated_framework.htm) and
summarize its main points. Critique and evaluate The Schwan Food Company’s initial
efforts to implement their internal audit function using the five internal control components
as a rubric. How well were each of these five internal control components initially
established? Assign scores from 0 (worst) to 5 (best) for each component. Ask students to
compare and justify their scores