2013 COSO Framework Update webcast and whitepaper
FINANCIAL REPORTING INSIGHTS |
In 1992, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) published Internal Control-Integrated Framework, which has become commonly known as the COSO Framework. On May 14, 2013, COSO issued an updated Internal Control-Integrated Framework to reflect changes in the business world over the 20 years since release of the original Framework. The 2013 Framework retains the five components of internal control (i.e., control environment, risk assessment, information and communication, control activities, and monitoring activities); however it adds 17 principles associated with these five components that are necessary for effective internal control. To provide a summary of these and other changes, we have issued a whitepaper, An overview of COSO's 2013 Internal Control-Integrated Framework.
Chief executive officers, chief financial officers, controllers and others involved in the oversight or development of internal control over financial reporting are invited to join us for our 2013 COSO Framework Update webcast on May 23, 2013 at 1 p.m. CT. This one-hour webcast will provide an overview of the updated 2013 COSO Framework, highlighting similarities with and changes from the 1992 version. The webcast also will discuss the 17 principles necessary to achieve effective internal control and the 81 points of focus supporting these principles. We will offer one hour of complimentary continuing professional education credit for attendance at this webcast, which will feature speakers from McGladrey's Risk Advisory Services and National Professional Standards Group.