[Verse 1]
In the world of corporate governance, we need a guiding light
COSO gave us frameworks to help us get controls right
Control environment sets the tone from the very top
Risk assessment finds the dangers that could make us stop
[Chorus]
C-R-C-I-M, that's the way we'll remember
Control Environment, Risk Assessment, Control Activities
Information Communication, Monitoring Activities
Five components working strong, keeping financial integrity
[Verse 2]
I-C-F-R keeps our numbers clean and true
Design it right, implement it well, make sure it's working too
Operating effectiveness is what we need to prove
Three phases of internal control help our business improve
[Chorus]
C-R-C-I-M, that's the way we'll remember
Control Environment, Risk Assessment, Control Activities
Information Communication, Monitoring Activities
Five components working strong, keeping financial integrity
[Verse 3]
IT general controls guard our systems night and day
Access management locks the doors, keeps unauthorized away
Change management tracks each update, operations run so smooth
Program development builds it right, that's how we always move
[Bridge]
Input controls check what goes in
Processing controls work within
Output controls verify the end
Application controls defend
[Verse 4]
Walk through procedures trace the path from start to finish line
Control deficiency evaluation helps us draw the line
Deficiency is just a gap, significant is more severe
Material weakness shakes the core, that's what auditors fear
[Chorus]
C-R-C-I-M, that's the way we'll remember
Control Environment, Risk Assessment, Control Activities
Information Communication, Monitoring Activities
Five components working strong, keeping financial integrity
[Outro]
From control environment to monitoring's final check
Internal controls protect us all, they keep our books in spec