The Committee of Sponsoring Organizations (COSO) has given final approval to the newly revised Internal Control – Integrated Framework: 2013, but companies will have to wait until May 14 to get a copy.
COSO spokesman Scott McCallum says the board has approved the final language of the framework update, but will spend the next several weeks producing it, preparing for distribution, and planning the communication strategy. When the final document is published in mid-May, the original framework will remain available and deemed appropriate for use through Dec. 15, 2014, giving companies plenty of time to transition.
