The Committee of Sponsoring Organizations grew out of a private sector initiative known as the Treadway Commission in 1987. COSO was tasked to develop and explain an integrated framework for the ...
As part of a financial statement audit, auditors are required to obtain an understanding of a company's internal control system. Internal control is an interconnected web of policies, procedures, ...
Are you an auditor engaged to audit an entity that is less complex? If so, you may wonder why you spend time on the audit evaluating internal control. This may seem like an exercise that is much more ...