JD Supra

COSO and Internal Controls – Part III

This post continues my exploration of internal controls and how companies can demonstrate compliance with the internal controls requirement under the Foreign Corrupt Practices Act (FCPA) by adhering ...
JD Supra

COSO Week – Objective III: Control Objectives

COSO was adopted in 1992 as a framework for basis to design and then test the effectiveness of internal controls. In 2010, it was deemed necessary to update this framework, to provide a more ...
JournalofAccountancy

5 missteps to avoid when evaluating internal controls

Are you an auditor engaged to audit an entity that is less complex? If so, you may wonder why you spend time on the audit evaluating internal control. This may seem like an exercise that is much more ...
University of Texas at San Antonio

Control Activities

The UTS142 assigns direct responsibility to each institution's financial reporting officer to establish internal controls over the preparation of the annual financial report. Control activities are ...
JournalofAccountancy

Assessing Company-Level Controls

THE ASSESSMENT OF COMPANY-LEVEL CONTROLS is a critical part of complying with section 404 of Sarbanes-Oxley. The PCAOB says public companies must assess the design and operating effectiveness of these ...