COSO has published a second draft of its updated internal control framework along with some new companion guidance, looking for fresh comments on whether the entire package meets the mark in updating the framework that most public companies use to achieve compliance with internal control reporting requirements under Sarbanes-Oxley.
The Committee of Sponsoring Organizations of the Treadway Commission, more commonly known as COSO, published a proposed update to its 1992 Internal Control–Integrated Framework in April and collected about 200 comment letters and survey responses suggesting changes to the draft. Through that feedback process, the COSO board determined it would revise the framework for a second round of comments and supplement the framework with two new pieces meant to help further explain the framework.
