COSO studies enterprise risks. (Domestic).The Committee of Sponsoring Organizations of the Treadway Commission
Committee of Sponsoring Organizations of the Treadway Commission (COSO), is a U.S. private-sector initiative, formed in 1985. (COSO) has launched what it says is a landmark study designed to provide guidance for organizations to manage risk, by providing a risk management framework. PricewaterhouseCoopers LLP, engaged to lead the project, is expected to spend up to 10,000 professional hours, with completion targeted for 2003. PwC will seek input from several sources, including members of the five COSO organizations: The American Institute of Certified Public Accountants With over 330,525 CPA members (in August 2006), the American Institute of Certified Public Accountants (AICPA) is the largest professional organization of Certified Public Accountants (CPAs) in the United States of America. (AICPA AICPA See American Institute of Certified Public Accountants (AICPA). ), The American Accounting Association (AAA), Financial Executives International (FEI), The Institute of Internal Auditors “IIA” redirects here. For IIA in decision theory, see Independence of irrelevant alternatives. Established in 1941, The Institute of Internal Auditors (IIA) is an international professional association of more than 128,000 members with global headquarters in (IIA) and the Institute of Management Accountants The Institute of Management Accountants (IMA) is a professional organization headquartered in Montvale, New Jersey consisting of over 70,000 members worldwide. The IMA is dedicated to advancing the role of the management accountant and financial manager within the business (IMA). John J. Flaherty, chairman of COSO and retired general auditor for PepsiCo Inc., commenting on the project's timing, said, "With the fallout from September 11 and the Enron demise, corporations worldwide are facing a watershed in recognizing the need for strong risk management systems. Corporate risk management is more critical than ever, yet until now, there hasn't been a comprehensive framework." For information, contact the Advisory Council chairman Tony Maid, a partner with Moss Adams LLP in Seattle, tonym@mossadams.com, or John Flaherty, johnjflaherty@hotmail.com. |
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