The Committee of Sponsoring Organizations of the Treadway Commission has commissioned Grant Thornton LLP to develop guidance to help organizations monitor the quality of their internal control systems.
The end product is meant to serve as a tool for effectively monitoring internal controls, as well as complying with the Sarbanes-Oxley Act.
The firm’s managing partner of national corporate governance, Trent Gazzaway, will lead the project team, which also includes Grant Thornton partners. A white paper on the project is due to be released in the early spring, while the monitoring tool is scheduled for completion in early 2008.
The completed project will take into account best practices at large and small organizations and contain in-depth guidance for implementing the monitoring component of COSO’s “Internal Control -- Integrated Framework,” document.
Updates on the monitoring project will be posted online, at www.coso.org.
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