New internal control monitoring guidance by COSO

COSO has released the new guidance for companies to conduct ongoing and special purpose minotoring. The new guidance provides the tools and examples that will help companies more thouroughly understand the monitoring component of the IC framework. It also demonstrates how monitoring controls integrates with management’s responsibility to perform 404 assessment in a cost effective way.

The 40 – page draft has been released. COSO is seeking the feedback by Oct. 31.  The final version is scheduled to be released for Q1, 08.


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