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internal control |
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New internal control guidance for smaller public companies has been issued by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This followed comment letters, the report of the SEC Advisory Committee on Smaller Public Companies and the previous week's (May 10) roundtable on Second-Year Experiences with Internal Control Reporting and Auditing Provisions, comprised of various constituents. The Committee of Sponsoring Organizations of the Treadway Commission's long-awaited draft, Guidance for Smaller Public Companies Reporting on Internal Control over Financial Reporting, was released in October 2005 to address internal controls for smaller publicly owned companies. |
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