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What are the principles for information and communication?

Information and communication is one of five key components of the COSO internal control framework. Information and communication relates to how the company communicates information internally and externally. The three key principles are below:

Obtain and Use Information – The company obtains relevant information and applies it to support its everyday operations.

Internally Communicate Information – The organization is effectively communicating pertinent information necessary to support the functioning of internal controls to internal parties.

Communicate externally – The organization should communicate with external parties. The organization is effectively communicating information regarding information that is relevant to the functioning of internal controls.

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