Details

Autor(en) / Beteiligte

• Vandervelde, Scott D.
• Brazel, Joseph F.
• Jones, Keith L.
• Walker, Paul L.

Titel

Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on Public Exposure Draft: Internal Control—Integrated Framework (COSO Framework)

Ist Teil von

• Current issues in auditing, 2012-06, Vol.6 (1), p.C35-C42

Ort / Verlag

Sarasota: American Accounting Association

Erscheinungsjahr

2012

Link zum Volltext

Quelle

EBSCOhost Business Source Ultimate

Beschreibungen/Notizen

• SUMMARY In November 2010, COSO announced a project to review and update the 1992 Internal Control—Integrated Framework (COSO 1992). COSO's goal in updating the framework was to increase its relevance in the increasingly complex and global business environment to help ensure that organizations worldwide can better design, implement, and assess internal control. The proposed Framework retains the core definition of internal control and the five components of internal control. One of the most significant enhancements is the expression of concepts described in the original framework into 17 principles, accompanied by related attributes. COSO provided for a 104-day exposure period (from December 19, 2011 to March 31, 2012) for interested parties to examine the exposure draft and provide comments. On March 29, 2012, the Auditing Standards Committee of the Auditing Section of the American Accounting Association provided the comments in the letter below to COSO on Public Exposure Draft: Internal Control—Integrated Framework (COSO Framework). Data Availability: Information about and access to the release is available at: http://www.ic.coso.org/default.aspx