United States

COSO Publishes Article About its Internal Control �Integrated Framework

Jun 17, 2013
From the Financial Reporting View

COSO recently posted to its website an article, The 2013 COSO Framework & SOX Compliance – One Approach to An Effective Transition, which provides a five-step SOX 404 transition process from the 1992 COSO Framework to the 2013 COSO Framework including (1) review and understanding of the recently released updated Framework publications and the changes as contrasted with the original framework; (2) conducting a preliminary impact assessment; (3) facilitating broad awareness, training, and a more comprehensive assessment; (4) developing and executing a COSO transition plan; and (5) driving continuous improvement. The article is intended to assist public companies in complying with Section 404 of the Sarbanes-Oxley Act of 2002.

See also Defining Issues 13-26 for KPMG commentary about the COSO Framework.

Read COSO Web Site