The long-awaited guidance providing small public companies tips on how to implement an effective internal control framework could be finished by April, according to Larry Rittenberg, chairman of the Committee of Sponsoring Organizations.
The task force that issued COSO’s draft document in October is reviewing 30 comment letters and 176 feedback-form submissions to determine which of the suggestions it will heed in finishing the guidance, Rittenberg said in an interview this week. The re-drafting is already in process, he said. Rittenberg predicted the task force will issue a final document—not a revised draft for further comment—in April.
