November 1, 2012
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BY
Ken Tysiac
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Article
News reports show the frightening weather satellite images of a hurricane that is causing concern for leaders of an automobile manufacturing plant. The storm’s possible effects on the supply chain seem obvious as it approaches one of the company’s suppliers. The problems this could cause for internal control over the company’s financial statements are less apparent.
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November 1, 2012
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BY
Ken Tysiac
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Article
News reports show the frightening weather satellite images of a hurricane that is causing concern for leaders of an automobile manufacturing plant. The storm’s possible effects on the supply chain seem obvious as it approaches one of the company’s suppliers. The problems this could cause for internal control over the company’s financial statements are less apparent.
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November 1, 2012
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BY
Ken Tysiac
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Article
News reports show the frightening weather satellite images of a hurricane that is causing concern for leaders of an automobile manufacturing plant. The storm’s possible effects on the supply chain seem obvious as it approaches one of the company’s suppliers. The problems this could cause for internal control over the company’s financial statements are less apparent.
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July 1, 2012
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BY
Stephen G. Austin
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Article
The compliance revolution after the passage of the Sarbanes-Oxley Act of 2002 (SOX) was accomplished in large part with the help of the internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). COSO’s framework became part of a worldwide movement to enhance periodic accounting and reporting of financial results.
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July 1, 2012
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BY
Stephen G. Austin
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Article
The compliance revolution after the passage of the Sarbanes-Oxley Act of 2002 (SOX) was accomplished in large part with the help of the internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). COSO’s framework became part of a worldwide movement to enhance periodic accounting and reporting of financial results.
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July 1, 2012
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BY
Stephen G. Austin
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Article
The compliance revolution after the passage of the Sarbanes-Oxley Act of 2002 (SOX) was accomplished in large part with the help of the internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). COSO’s framework became part of a worldwide movement to enhance periodic accounting and reporting of financial results.
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April 4, 2012
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BY
Ken Tysiac
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Article
The AICPA is suggesting changes to the proposed, updated internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). In a comment letter, the AICPA wrote that the framework will be a valuable resource for practitioners. But the AICPA also described concerns, some of which are similar to those mentioned in the comment letter of the Center for Audit Quality (CAQ), which is affiliated with the AICPA.
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April 3, 2012
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BY
Ken Tysiac
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Article
The Center for Audit Quality (CAQ) would like the Committee of Sponsoring Organizations of the Treadway Commission (COSO) to provide more transition guidance for users implementing COSO’s updated internal control framework. COSO is updating its 20-year-old internal control framework to provide a fresh, modern approach with explicit advice and implementation guidance.
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March 2, 2012
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BY
Ken Tysiac
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Article
Many faulty business decisions can be traced to “confirmation bias” that leads people to unwittingly seek information that bolsters what they want to believe, says Brigham Young University accounting professor Doug Prawitt. “We don’t realize it when we do that, but it’s a very, very powerful human bias,” he said Thursday during a telephone interview.
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March 1, 2012
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BY
Ken Tysiac
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Article
For about 20 years, the popular internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has been like a favorite tool in a craftsman’s shop. Its guidance has held up over time with original components that have been so sound that a large majority of more than 700 stakeholders surveyed supported updating the original 1992 framework, but not conducting a major overhaul.
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