The Committee of Sponsoring Organizations of the Treadway Commission, which provides guidance on internal control, enterprise risk management, and fraud deterrence, has issued a new article to help public companies make the transition to COSO’s recently updated internal control framework.
COSO released the long-awaited internal control framework last month in the first update since 1992 (see COSO Releases Updated Internal Control Framework). The new article explains how public companies can use the updated framework to comply with Section 404 of the U.S. Sarbanes-Oxley Act of 2002. The article outlines an example of one approach to transitioning to COSO’s 2013 Internal Control–Integrated Framework from the original framework published a decade before Sarbanes-Oxley was enacted by Congress.
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