Sponsoring organizations:

COSO

Comprising the professional associations listed above, the Committee of Sponsoring Organizations (COSO) is a voluntary private-sector organization. COSO is dedicated to guiding executive management and governance entities toward the establishment of more effective, efficient, and ethical business operations on a global basis. It sponsors and disseminates frameworks and guidance based on in-depth research, analysis, and best practices.

Welcome

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COSO is recognized the world over for providing guidance on critical aspects of organizational governance, business ethics, internal control, enterprise risk management, fraud, and financial reporting. We hope you find the information on this site to be helpful and we welcome your input on any COSO drafts exposed for comment.

WHAT'S NEW

COSO Seeks Participation in Three Important Surveys About ERM and Controls

As part of COSO's ongoing efforts to seek input from stakeholders, it is currently seeking participation in the following surveys dealing with ERM, Internal Control and governance environments:

1. With COSO's assistance, the Professional Accountants in Business (PAIB) Committee of International Federation of Accountants (IFAC) has launched a survey to investigate how risk management and internal control frameworks, standards and/or guidance are being used around the globe, and to assess the need for international alignment among various national frameworks. The survey is available on-line until July 10, 2010 at http://vovici.com/wsb.dll/s/139f1g44f0a.

2. In partnership with Protiviti, a global consulting and internal audit firm, COSO is inviting corporate directors to participate in a short survey to obtain deeper knowledge of the current state and desired future state of the risk oversight process as it is applied by boards of directors. The survey is available on-line (beginning June 21, 2010) at www.protiviti.com/BoardMemberSurvey..

3. With the assistance of the ERM Initiative at North Carolina State University, COSO is interested in obtaining stakeholder feedback about it 2004 Enterprise Risk Management - Integrated Framework. The survey is intended to identify perceived strengths and/or weaknesses in the Framework, as well as the extent of reliance on alternative frameworks to strengthen organizational enterprise risk processes and oversight. It can be completed online at http://www.surveymonkey.com/s/9ZGFGZG.

COSO Releases Results of Fraud Study

COSO has released a new research study, Fraudulent Financial Reporting: 1998-2007,that examines 347 alleged accounting fraud cases investigated by the U.S. Securities and Exchange Commission (SEC) over a ten-year period ending December 31, 2007. It provides an in-depth analysis of the nature, extent and characteristics of accounting frauds occurring throughout the ten years, and provides helpful insights regarding new and ongoing issues needing to be addressed.

Read the press release.
View the research report.
View a free Webinar and download presentation slides that summarize the study's findings.

New Thought Paper Links Strategy and ERM

COSO’s newest thought paper, Strengthening Enterprise Risk Management for Strategic Advantage, highlights how senior management can work with its board of directors to enhance risk oversight and strategic value. It builds upon a recently released COSO thought paper, Effective EnterpriseRisk Oversight: The Role of the Board of Directors (see below). Read the press release here. View the thought paper here.

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