Can someone give me a definition of ';key internal control'; as opposed to just an internal control?

Further to my earlier answer, you might be interested in the following links:


1st link - Key Internal Control Activities


2nd link - If you're studying internal control, you should familiarise yourself with The Committee of Sponsoring Organizations of the Treadway Commission (COSO)'s framework. COSO states that internal control consists of five interrelated components:


1. Control Environment


2. Risk Assessment


3. Control Activities


4. Information and Communication


5. Monitoring





3rd link - The New Compliance Background


Although the SEC has not yet issued a definition or framework for internal controls, it is expected to closely align with the key internal control concepts of the Committee of Sponsoring Organizations of the Treadway Commission (COSO).