Just in time for the holiday reading list, COSO has published a draft of its updated internal control framework, calling on companies that rely on the widely accepted framework to consider how the revised version might work in practice and provide feedback.
The Committee of Sponsoring Organizations of the Treadway Commission updated the nearly 20-year-old framework to modernize it based on more current business issues. The updated framework should help companies adapt to increasing complexity and pace of change, COSO says. It should also help mitigate risks to the achievement of business objectives and provide reliable information to support sound decision-making.
