The revised COSO internal control framework is so close to final it's time for companies to line it up against their present system and see where changes might be in order.

“Companies may consider acting early and updating their processes around internal control in light of the 17 principles,” says Jennifer Burns, a partner at Deloitte & Touche. “This is a good opportunity to consider whether any areas of internal control need a refresh.”

The Internal Control—Integrated Framework written by the Committee of Sponsoring Organizations and relied on by virtually all U.S. public companies to achieve compliance with the Sarbanes-Oxley Act is ...