Steps to COSO Transition Success
For the first time in almost 12 years, companies that comply with COSO will need to update their internal control frameworks. A revised structure and plan ideally should be in place by summer of 2014 in order to seamlessly transition ahead of the December 15, 2014, deadline.
Is your company prepared to handle the transition from COSO92 to COSO2013 by the December 2014 deadline?
In a recent article featured in AFP Exchange magazine, Amy Ribick, manager, risk advisory services at Brown Smith Wallace, explains the significant changes in the COSO update and a three-phased approach to implementation.