In January 2013, the updated version of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) Integrated Internal Control Framework went into effect (https://www.coso.org/). If you’re wondering what this model is, you probably work for a privately held corporation or a non-profit or are very new to internal audit.
Topics: Compliance, COSO, Internal Controls, Risk Assessment, Entity-Level Control
The SEC introduced “disclosure controls and procedures” as a new term in its initial August 29, 2002, release following the enactment of Sarbanes-Oxley.
Topics: Internal Controls, Entity-Level Control, Sarbanes-Oxley Act, Financial Reporting, Section 302 - Executive Certs.
Self-assessment is a process through which an organization utilizes its internal knowledge to identify and assess uncertainties and the extent to which current practices are sufficient and appropriate to manage and achieve strategic objectives. Self-assessment drives the "tone at the top" down to process owners.
Topics: Internal Audit, Internal Controls, Entity-Level Control, Self-Assessment
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Topics: Entity-Level Control, Audit Planning, Sarbanes-Oxley Act
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