Companies slow to embrace COSO 2013: the deadline to start using the new framework is fast approaching.

Author:Salierno, D.
Position:Update/Practices - Committee of Sponsoring Organizations - Brief article

Publicly listed companies are moving slowly in their adoption of COSO's 2013 Internal Control--Integrated Framework, according to a recent Protiviti survey. When asked about progress on mapping COSO 2013 principles and points of focus to key controls, nearly half of the almost 650 internal audit practitioners and other professionals polled earlier this year said their company had not yet begun the process. Moreover, at least one in five respondents were unsure whether their organization would use the new framework to guide U.S. Sarbanes-Oxley Act of 2002 documentation in the current fiscal year, even though it will supersede the 1992 COSO framework after Dec. 15.


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