Articles | Compliance Week – Page 300
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Article
Bridging the Divide Between COSO Frameworks Old and New.
As companies work to implement the updated COSO internal controls framework, they are hearing a common refrain: “mind the gap.”That would be the gap between internal controls under the old framework and the added elements of the new one. Companies aren’t just closing that gap, though; they are also using ...
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Article
Lessons From Winnie the Pooh on Risk Assessments
I have spent almost twenty years as an auditor; externally, internally, or training auditors. When discussing the subject of risk assessments and annual audit plan development, I am reminded often of a quote from Winnie the Pooh.“Here is Edward Bear, coming downstairs now, bump, bump, bump, on the back of ...
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Article
IASB Issues New Rules on Financial Instruments; FASB Readies Different Approach
Companies following international accounting rules have a new standard on how to account for financial instruments, and it differs in a number of important ways from the standard that is expected to emerge in the United States by the end of the year.The International Accounting Standards Board finalized its comprehensive ...