COSO Framework Has Applications Beyond Financial Reporting
Image: As companies put the finishing touches on the adoption of the updated framework for internal controls, many are realizing that there are hidden benefits to the work. Audit experts say there are several other areas where elements of the updated COSO framework can apply, such as divisional reporting, customer ...
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More Hints on Putting New COSO to Work
It’s official: The SEC will not roast companies over an open flame if they continue to use the old COSO framework for internal controls into 2015. That said, SEC staffers also warned at the annual AICPA conference last week that their largesse will not last long, and a bevy of ...
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PremiumU.K. financial regulator looks to streamline audit enforcement procedures
Auditors are supposed to keep businesses honest, but how much regulation is the optimum for the auditors – and how onerous and punitive should the enforcement regime be? A new consultation by the U.K. regulator, the Financial Reporting Council, opened on Oct. 1 and has put the vexed question of ...
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ArticlePCAOB’s Christina Ho: How emerging technologies could improve audit quality
Emerging technologies, like artificial intelligence (AI) and advanced data analytics, can improve audit quality in significant ways. As the regulatory overseer of public-company audits, the Public Company Accounting Oversight Board (PCAOB) has a critical role to play by ensuring that its audit standards evolve as the audit profession evolves.