The Committee of Sponsoring Organizations of the Treadway Commission (COSO) recently launched an online survey for its current project to review and update the 2004 Enterprise Risk Management – Integrated Framework (the Framework).
The survey, created by the same PwC project team that wrote the original ERM Framework, seeks input, feedback, and suggestions for improvement from interested parties. The framework, originally published in 2004, is widely used by management to enhance an organization’s ability to manage uncertainty and to consider how much risk to accept as it strives to increase stakeholder value. This initiative is intended to enhance the framework’s content and relevance in an increasingly complex business environment so that organizations worldwide can attain better value from their enterprise risk management programs.
COSO has engaged PwC to update the Framework under the Board's leadership and direction.
The online survey will remain open until December 20, 2014.
PwC recently published Point of view: The interim reporting model – time to get back to basics, which discusses how refocusing the interim reporting model could enhance efficiency and relevancy.
The paper makes the following observations and statements as it pertains to interim reporting:
PwC concludes in the POV that it supports the SEC’s and FASB’s ongoing disclosure framework projects and suggests that technological advances and the digitization of data have provided the right environment for regulators to rethink the kinds of information that must be reported every period.