NEWS
NEW COSO
FRAMEWORK
However with this update, users will get
benefits of better designed framework.
COSO will allow for a transition to the
updated framework by continuing
making the original framework available
through December 15th, 2014. After that
date, the Board will consider the original
framework superseded and will no longer
make it available.
COSO has updated the framework to reflect changes in business and operations
that have emerged since 1992. It will
explicitly identify 17 principles to help
users achieve effective internal control.
We will soon analyze this new version in
our magazine.
LE MAGAZINE DU TRESORIER / TREASURER MAGAZINE — N°83 — OCT
It has been released in May 2013. COSO
has released a volume of illustrative books
for assessing the effectiveness of internal
controls, as well as a document called
“Internal Control over External Financial
Reporting”. The compendium is designed to help users apply the framework to
external financial reporting. In updating
this framework and developing the illustrative documents, COSO sought to help
companies adapt to complexity, mitigate
risks, and provide reliable information
to support sound decision-making. The
original internal control framework has
been published in 1992. It has stood the
best of time with success.
/ NOV / DEC 2013
The board of the” Committee of Sponsoring Organizations of the Treadway
Commission” (COSO) has approach its
updated “Internal Control – Integrated
Framework”.
71
Table des matières de la publication Trésorier/Treasurer magazine - N°83 — Oct/Nov/Dec 2013