Final answer:
The elements of the COSO control structure include Control environment, Risk assessment, Control activities, Information and communications, and Ongoing monitoring. These components work together to ensure the effectiveness of an organization's internal control systems.
Step-by-step explanation:
The elements that comprise the control structure described by the Committee of Sponsoring Organizations (COSO) include a variety of components meant to provide a robust framework for internal control. The elements to check as part of this framework are:Control environmentRisk assessmentControl activitiesInformation and communicationsOngoing monitoringEach of these elements plays a vital part in ensuring the integrity and effectiveness of an organization's internal control systems. The control environment sets the tone of an organization and influences the control consciousness of its people, while risk assessment involves the identification and analysis of relevant risks to the achievement of objectives, forming the basis for how risks should be managed.
Control activities are the actions established through policies and procedures that help ensure that management's directives to mitigate risks are carried out. Infrmation and communications involve the identification, capture, and exchange of information in a form and timeframe that enable people to carry out their responsibilities. Finally, ongoing monitoring is conducted to assess the quality of internal control performance over time, ensuring that the controls continue to operate effectively.