Chapter Summary: The control environment is the set of standards, processes, and structures that provide the basis for carrying out internal control across the organization. The board of directors and senior management establish the tone at the top regarding the importance of internal control including expected standards of conduct. Management reinforces expectations at the various levels of the organization. The control environment comprises the integrity and ethical values of the organization; the parameters enabling the board of directors to carry out its governance responsibilities; the organizational structure and assignment of authority and responsibility; the process for attracting, developing, and retaining competent individuals; and the rigor around performance measures, incentives, and rewards to drive accountability for performance. The resulting control environment has a pervasive impact on the overall system of internal control. Principles relating to the Control Environment component: Princlples relating to the Control Environment component: 1. The organization demonstrates a commitment to integrity and ethical values. 2. The board of directors demonstrates independence of management and exercises oversight for the development and performance of internal control. 3. Management establishes, with board oversight, structures, reporting lines, and appropriate authorities and responsibilities in the pursuit of objectives. 4. The organization demonstrates a commitment to attract, develop, and retain competent individuals in alignment with objectives. 5. The organization holds individuals accountable for their internal control responsibilities in the pursuit of objectives. coso 2013 Internal Controls Framework Assignment After previewing the below video, use the attached COSO 2013 PDF Draft File (it was the final diaft even thoughits dated 2011 to complete the following: Select One of the Seventeen coso Internal Controls principles (they start on page 25) that cover the 5 coso components of internal Control and provide a summary 1 page write-up of that Principle including what is its intent with respect to an organizations Internal Controls