Perspectives

Heads up: Implementing COSO’s Framework

Challenges and leading practices

What are the challenges in implementing the 2013 Internal Control—Integrated Framework (2013 COSO Framework) and related leading practices? This Heads Up discusses issues related to the timing, challenges, and leading Internal Control over Financial Reporting practices. Also, get access to observations and perspectives on applying the 2013 Framework for operational and regulatory compliance purposes.

COSO implementation best practices

While the 2013 Framework’s internal control components are the same as those in the 1992 Framework, the new framework requires companies to assess whether 17 principles are present and functioning in determining if their system of internal control is effective. Further, the 17 principles are supported by points of focus, which are important considerations in a company’s evaluation of the design and operating effectiveness of controls to address the principles.
 
Download the September 15, 2014, Heads Up on COSO implementation best practices.

Learn more about COSO implementation best practices
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