COSO releases exposure draft of guidance on monitoring internal control.

The Committee of Sponsoring Organizations of the Treadway Commission (COSO; www.coso.org) in June released its exposure draft, Guidance on Monitoring Internal Control Systems. Comments are due Aug. 15.

Developed by COSO, of which the AICPA is a member organization, the guidance is designed to help organizations monitor the quality of their internal control systems. Comments on the exposure document can be submitted online through a Web-based feedback portal on the COSO Web site at www.coso.org/guidance.htm.

The guidance more fully develops the monitoring component of COSO's earlier work, Internal Control--Integrated Framework. This new exposure draft, which incorporates public input from the discussion document COSO released last Sept...