Coso guidance under review
NEW YORK - Draft guidance on monitoring internal control systems from the Committee of Sponsoring Organisations (Coso) - the creator of the Coso enterprise risk management framework - is expected to undergo a further set of revisions after the body received robust comment from the industry over the past few months.
Developed by Coso, working with a team from Grant Thornton, the new guidance was designed to help companies monitor the quality of their internal control systems, particularly if they were seeking to comply with Sarbanes-Oxley's (Sox) Section 404. It was published in September 2007, but the month-long comment period was extended as more feedback came in from the industry.
"The thrust of the
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