COSO To Release Monitoring Guidance Feb 4; Seeks New Chair

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The following information has been posted on the website of the Committee of Sponsoring Organizations of the Treadway Commission (COSO):

  • COSO is pleased to release the first volume of its monitoring guidance — the Introduction – [to COSO’s Guidance for Monitoring Internal Control Systems]. This business guidance more fully develops the monitoring component of the Internal Control - Integrated Framework to assist companies in ensuring the effectiveness of their financial, operational, and compliance-related internal controls. The entire four-volume set of guidance will be available on February 4, 2009.

The guidance is aimed at helping companies improve - and take credit for, when appropriate - effective monitoring of internal control. It is also aimed at helping companies use monitoring to make the internal control process more efficient as well as effective.

Separately, COSO is presently seeking applications for a new Chairman; the present Chair's - Prof. Larry Rittenberg of the Univ. of Wisconsin's - term ended last year, and he has agreed to stay on an interim basis until a new chair is identified.

Read more about these developments here.


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