Video Series - COSO 2013: What to Expect & How to Transition

Posted by Guthrie Chenon Thu, Jun 26, 2014 @ 10:04 AM


Teresa Bockwoldt, Vibato CIO and Founder spoke at the University of Utah School of Business about what's ahead for those who are required to adopt the new COSO 2013 Framework.

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Internal Controls over Financial Reporting: Testing with Precision

Posted by Guthrie Chenon Wed, Jun 25, 2014 @ 09:52 AM

With a renewed emphasis in testing with precision on internal controls over financial reporting, it may help to jump the gun and review some of your most complex controls that would fall within scope of an external auditors review. The following definition of ‘testing with precision’ is defined in the following statement via Crowe Horwath LLP:

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Tags: Internal Controls, examples, audit, external audit, precision, misstatement, testing, risk management, reconciliation, material

Controls needed to successfully adopt the new COSO 2013 Framework

Posted by Guthrie Chenon Fri, Jun 13, 2014 @ 04:00 PM

By now, we have all started to become aware that the new COSO 2013 framework MUST be adopted by all publically traded companies by the end of their current fiscal year. There’s a great deal of material out there explaining what needs to be implemented yet, very few of those items (including the documents provided directly from COSO) explain HOW to actually make this implementation happen.

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Tags: Internal Controls, examples, controls, audit, SOX, audit committee, COSO, COSO 2013, framework, documentation