COSO Launches Project To Modernize 1992 Internal Control Framework
Nov. 18, 2010
FEI Summary

On Nov. 18,  2010 the Committee of Sponsoring Organizations of the Treadway Commission announced it has launched a project to moderize its landmark Internal Control-Integrated Framework. The framework, first published in 1992, has been supplemented by various publications since that time, including publications geared toward small public companies, and on monitoring of internal controls. Audit firm PwC has been selected to coordinate this project, under the guidance of an advisory committee consisting of COSO board members and other experts.

COSO's founding sponsoring organizations include FEI, the AICPA, IIA, IMA, and AAA.

According to COSO's press release, “The initiative is expected to culminate in an updated internal control framework publication in 2012, the 20th anniversary of the initial Framework.”

Prepared Nov. 18,  2010 by FEI staff. This summary does not reflect FEI opinion unless specifically noted above.