Your Guide to Understanding, Communicating, and Implementing the Update. For the first time since 1992, the Committee of Sponsoring Organizations of the Treadway Commission COSO has updated its Internal Control Integrated Framework. Now organizations around the world are seeking to understand and implement the changes.
Larry Rittenberg, COSOs chair emeritus, provides a high level overview that will help internal auditors in all industries to quickly identify the implications for their organizations. Because controls are everybody s business, this book will help anyone responsible for internal controls understand the major changes in the framework, how the changes will impact decisions made by internal auditors, audit committees, boards, and management, the increased need for subjective analysis and evidence when auditing controls.
New approaches for external financial reporting and IT controls, the shift toward more attention on operational and compliance objectives, how to communicate the changes to internal audit staff, audit committee members, and management, the implications for frameworks outside North America. This brief, easy to read piece is an indispensable companion for the 2013 revision of COSO Internal Control Integrated Framework.