COSO Launches Survey On Update Of Internal Control Framework; Deadline Jan. 31
Jan. 4, 2011
FEI Summary

On Jan. 4, 2011 the Committee of Sponsoring Organizations of the Treadway Commission (COSO), launched an online survey to gather stakeholder feedback from financial statement preparers, auditors, investors, board members, academics and others, as part of its project to update COSO's original (1992) Internal Control-Integrated Framework.  The update is expected to provide more comprehensive and relevant conceptual guidance and practical examples, with a target publication date of 2012.

Read COSO's press release which links to COSO's online survey. The survey deadline is January 31.

The project to update COSO's 1992 internal control-integrated framework is being led by PwC, under the guidance of a COSO project task force consisting of the COSO board members from COSO's 5 sponsoring organizations (FEI President and CEO Marie Hollein represents FEI on the COSO board).

Additional member experts from each of the 5 sponsoring organizations serve on the COSO project task force, including FEI member representative Raymond Purcell, Director of Financial Controls, Pfizer. Ray will also coordinate an internal working group within FEI to obtain additional feedback from FEI members on this project, if you are interested in learning more about this internal working group, please contact eorenstein@financialexecutives.org.