COSO


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Related to COSO: COBIT

COSO

(Committee Of Sponsoring Organizations of the Treadway Commission) An initiative of five accounting associations that provide guidance in risk and control, which enable good organizational governance and reduction of fraud. Founded in 1985, COSO sponsored the National Commission on Fraudulent Financial Reporting, which was chaired by James Treadway, Jr., former commissioner of the SEC. For more information, visit www.coso.org.

The COSO framework is widely used in auditing for compliance with the Sarbanes-Oxley Act (SOX) and Gramm-Leach-Bliley Act (GLBA). COSO's core elements of internal control are:

1 - Control environment
2 - Risk assessment
3 - Control activities
4 - Information & communication
5 - Monitoring
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References in periodicals archive ?
Para isso, o presente estudo teve por objetivo desenvolver e testar uma modelagem que permitisse avaliar como os principios estabelecidos no "Enterprise Risk Management Framework--Integrating with Strategy and Performance" COSO, 2017), podem influenciar o processo de planejamento estrategico.
CoSo provides a secure private cloud platform as a managed service for distributed businesses and government agencies to conduct reliable virtual training and engage in high-consequence virtual meetings.
COSO recognized the role of risk in organizations and developed the ERM framework by expanding the IC-IF to focus on the importance of controlling risk in value creation in an organization.
Recent revisions have modified the Green Book to reflect the 2013 update of the popular internal control framework issued by the Committee of Sponsoring Organizations oftheTreadway Commission (COSO).
In its executive summary, the updated COSO Enterprise Risk Management Framework is described as:
COSO released its proposed framework on enterprise risk management in mid-June, and public comment is open until Sept.
A 25-year industry veteran, Peterson joins CoSo as chief operating officer after having built a successful career as a leader in building world-class software development teams and running SaaS data center operations in high-growth organizations.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control--Integrated Framework and the ISACA COBIT framework have a long and beneficial history of in-tandem use by many enterprises, long before the Sarbanes-Oxley Act of 2002 regulations were enacted.
COSO's Internal Control Integrated Framework, COSO's Enterprise Risk Management (ERM) Integrated Framework, and the International Organization for Standardization's (ISO's) 31000:2009 Risk Management standard, however, are of particular interest.