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 ...

The Monitoring Activities objective consists of two principles: 1) The organization selects, develops, and performs ongoing and/or separate evaluations to ascertain whether the components of internal ...

Craig is the founder/CEO of compliance operations software company Hyperproof and an expert in the compliance, risk, and technology space. In today’s volatile environment, organizations need to have ...

Internal controls are the rules, mechanisms, and procedures a company implements to ensure the integrity of its financial and accounting information, promote accountability, and prevent and detect ...

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 ...

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 ...