COSO - Fraud Risk Management Tools

Posted by Alexa Foxon Thu, Sep 29, 2016 @ 11:45 AM

COSO has created and provided Fraud Risk Management Tools to help prevent and deter fraud from any company. In 2013, COSO created categories for 17 Principles and Components into 5 sections - Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring. Now COSO has created a fraud management tool for each of the 5 categories. 

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Tags: SOX, fraud prevention, COSO, COSO 2013, framework, fraud, sox coso framework

SEC Proposed New Rules Regarding Property Disclosures for Mining Registrants.

Posted by Alexa Foxon Thu, Jun 16, 2016 @ 11:59 AM

The SEC recently proposed new rules regarding property disclosures  for mining registrants. Take a look at the details of the rules below:

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Tags: SEC approval, rules, COSO, SEC, accounting, purposed rulings, mining, mining registrants

10 Years Ago Enron CEO's were Convicted

Posted by Alexa Foxon Wed, May 25, 2016 @ 02:02 PM

10 years ago today Enron Chairmen and CEO Kenneth Lay and CEO and COO Jeffrey Skilling were convicted.  The top executives at Enron cheated investors and set a negative tone at the top. Enron overvalued assets and used complex accounting gimmicks like overestimating future income and cash flow. The FBI states that to date Enron was the most complex white collar crime investigation they have dealt with. 

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Tags: Enron, Jeffrey Skilling, Enron Scandal, 10 years ago, Sarbanes-Oxley, COSO, COSO 2013, Keep Skilling in Jail, internal control 2013, sox and coso, 2013 coso internal control framework, sox coso framework, fbi, Kenneth Lay, 10 years, coso framework, coso sarbanes oxley

We know COSO 2013 - Contact us for your assessment!

Posted by Teresa Bockwoldton Tue, Mar 03, 2015 @ 10:23 AM

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Tags: control reduction, compliance, COSO, COSO 2013

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

COSO 2013 Tips: How your 10-K language will change....

Posted by Teresa Bockwoldton Fri, May 16, 2014 @ 02:48 PM

Here's a quick tip on how your 10-K language may need to change to represent your compliance with the new COSO 2013 standards / Sarbanes-Oxley. Remember, this is due by 12/15/2014, it is not optional, and if you directly reference the 1992 guidance like most companies do, you will need to make this edit.

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Tags: Sarbanes-Oxley Articles & Information, Accounting Tip of the Day, Securities and Exchange Commission, Sarbanes-Oxley Training, Sarbanes-Oxley, COSO, COSO 2013, SEC

COSO 2013 Best Practices - What are they?

Posted by Teresa Bockwoldton Wed, Apr 30, 2014 @ 09:43 AM


Here is a great story about our customers experience with trying to switch from COSO 1992 to COSO 2013.
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Tags: Sarbanes-Oxley Articles & Information, Accounting Tip of the Day, audit, best practices, internal audit, sox compliance, Sarbanes-Oxley, COSO, COSO 2013, corporate governance

Free 1 CPE Training Available on SSAE 70, COSO 2013, and Internal Controls!

Posted by Teresa Bockwoldton Thu, Feb 13, 2014 @ 03:18 PM

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Tags: Vibato Webinars, SSAE 16, SOC, Process Improvement, COSO, COSO 2013, SAS 70, Internal Control Education

COSO - updated "Internal Control -- Integrated Framework"

Posted by Teresa Bockwoldton Wed, Dec 21, 2011 @ 12:26 PM

COSO is coming out with a revision to the famous 'COSO Cube' and they have submitted a draft for public comment. The COSO Cube provides the basis for all internal control infrastructures, including Sarbanes-Oxley implementations, and it gives guidance on how to structure and audit control procedures. PwC participate in the update and they have provided a nice synopsis below of the pending change:

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Tags: Internal Controls, SOX, 404 audit, audit scope, COSO, Internal Control Education