All Accounting & Auditing articles – Page 115
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Article
Bridging the Divide Between COSO Frameworks Old and New.
As companies work to implement the updated COSO internal controls framework, they are hearing a common refrain: “mind the gap.”That would be the gap between internal controls under the old framework and the added elements of the new one. Companies aren’t just closing that gap, though; they are also using ...
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ArticleIASB Issues New Rules on Financial Instruments; FASB Readies Different Approach
Companies following international accounting rules have a new standard on how to account for financial instruments, and it differs in a number of important ways from the standard that is expected to emerge in the United States by the end of the year.The International Accounting Standards Board finalized its comprehensive ...
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Blog
IIA Proposes Updates to Professional Practices Framework
Image: The Institute of Internal Auditors is reworking its International Professional Practices Framework, including the addition of a mission statement, core principles, and guidance for emerging issues. “After months of careful consideration, we are proposing enhancements we believe make the IPPF more reflective of the profession’s core principles and mission,” ...
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Article
Buying Time on COSO’s Internal Control Framework Update.
With no explicit regulatory mandate to adopt the recently revised internal control framework by the end of 2014, companies sweating the sunset of the old framework are starting to ask: “Can we take another year to work on this?”Ever so cautiously, auditors are starting to say: “Sure. Just disclose it.”“People ...