An internal control framework (ICF) not only addresses traditional risks but also enhances compliance and mitigates fraud, while improving financial reporting accuracy.

COSO is updating the 20-year-old internal control framework to provide a fresh, modern approach with explicit advice and implementation guidance. The exposure draft of the proposed framework includes ...

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) recently updated the Internal Control-Integrated Framework. The goal is to provide greater clarity and guidance related to ...

For example, implementation of a policy to report suspected fraud would be included in the information and communication part of the framework. The monitoring part of the internal control ...

Last week, I posted a piece regarding the “squishy” deadline (to borrow the term of art coined by the COSO Chair) for implementation of the new 2013 COSO internal control framework.

As the COSO 2013 Internal Controls Framework is designed ... principles exist in the design and implementation of the system of [compliance] internal control to achieve the specified objective.” ...

The publication, “ 2013 COSO Integrated Framework: An Implementation Guide for the Healthcare Provider Industry,” expands on COSO’s widely used internal control framework, but within the context of ...

The draft updated internal control framework certainly focuses better ... concepts in the strategic development process and related implementation planning. Another approach is to set an ERM ...

For example, separation of duties is a critical internal control. However, hiring additional employees to provide for this control isn't always a cost-effective solution. An alternative is to ...

An internal control framework (ICF) not only addresses traditional ... You will also want to incorporate feedback mechanisms. Start your implementation with a pilot phase in a select department ...