06/05/2013
Focus on Risk Services: COSO Framework Updated
The Committee of Sponsoring Organizations of the Treadway Commission
(COSO) issued its updated Internal Control–Integrated Framework
(Framework) and related illustrative documents on May 14, 2013. On
December 15, 2014, the Framework will officially replace the original
Internal Control – Integrated Framework (the original framework), which
dates back to 1992. The original framework has been used by companies,
non-profit organizations, governments, and regulators, becoming the
global standard used to design, implement, and assess the effectiveness
of a system of internal controls.