COSO 2013: Why Should You Care?

The updated COSO Internal Control – Integrated Framework has been out for over a year. Many companies are now using the updated Framework to evaluate their internal control over financial reporting to comply with Section 404 of the Sarbanes-Oxley Act of 2002.

The COSO Framework emphasizes the importance of the tone at the top and the board of director’s responsibility for overseeing the development and performance of internal control. This issue of Board Perspectives: Risk Oversight explores six reasons why the board, or one or more of its committees, should care about the updated Framework and offer pertinent questions for boards to consider.