COSO has published a PwC-authored update to its framework, the first in over 20 years, which gives you an opportunity to refresh your controls for today's environment.
Any effective system of internal control must adapt to new challenges and changes. Today's business environment strains controls that were once sufficient. The recently released COSO Update, authored by PwC, helps you refresh your controls for today's environment. For the first time in 20 years, the COSO Update considers changes in the business environment since the original 1992 Framework. Internal control has given companies reasonable assurance around financial reporting. This 10Minutes provides an overview of the benefits of conducting a review of your systems of internal control with the COSO Update. Applying the Update can help companies strengthen controls and bolster confidence in meeting operational, reporting, and compliance objectives.
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