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The IT implications of COSO's new exposure draft
Author(s) -
Tackett James A.,
Wolf Fran
Publication year - 2012
Publication title -
journal of corporate accounting and finance
Language(s) - English
Resource type - Journals
eISSN - 1097-0053
pISSN - 1044-8136
DOI - 10.1002/jcaf.21781
Subject(s) - commission , accounting , business , control (management) , finance , management , economics
Abstract In 1992, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its landmark structure for designing, implementing, and evaluating the effectiveness of internal control. This framework has become the “gold standard” of internal control for large, publicly traded companies. Now 20 years later, advancements in information technology (IT) demanded revised guidelines—to better address the financial reporting and control problems faced by companies doing business in a digital world. But how will the new proposed guidelines affect IT today? © 2012 Wiley Periodicals, Inc.