4. Describe control policies and procedures commonly used in business organizations. The second component of COSO’s internal control model is control activities. Generally, control procedures fall into one of five categories a) Proper authorization of transactions and activities b) Segregation of duties c) Design and use of adequate documents and records d) Adequate safeguards of assets and records e) Independent checks on performance 5. Suppose you are an executive supposed to make strategic decision. Discuss how you would
