“The organization internally communicates information, including objectives and responsibilities for internal control, necessary to the functioning of internal control.” (COSO Principle 14 – Communicates Internally COSO Framework ) is the second of the three principles relating to the Information & Communication component of internal control. For those who view the COSO framework and compliance as “check the box” activities divorced from organizational success, this principle exposes their folly
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“The organization selects, develops, and performs ongoing and/or separate evaluations to ascertain whether the components of internal control are present and functioning.” (COSO Principle 16 – Performs Ongoing and/or Separate Evaluations COSO Framework ) is the first of the two principles relating to the Monitoring Component of internal control. Organizations naturally proceed through change over time as they respond to opportunities and risks
We are all familiar with the accommodations required of our workplaces, retail stores, and other physical spaces but how does the “public accommodation” rules in Title III of the Americans with Disabilities Act (ADA) apply to our cyber assets? This remains an open question. ...
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Hopefully scary enough to help you realize that you need to make sure your company has the proper internal controls and data governance policies to help protect against attacks
Given a duration of 265 days, internal control procedures like requiring password changes every 90 days obviously doesn’t help
“The organization communicates with external parties regarding matters affecting the functioning of internal control.” (COSO Principle 15 – Communicates Externally COSO Framework ) is the last of the three principles relating to the Information & Communication component of internal control
Interesting article … Largest democratic country in the world (India) is pushing the largest capital markets country in the world (USA) to have public companies disclose not only financial information but non-financial information to better serve both investors and the public. Including...
A strong data governance strategy helps ensure this through effective internal controls, continuous monitoring and risk management
IMA and Leveraging COSO Internal Controls - Ingrated Framework (ICIF) to Improve Confidence in Sustainability Performance Data Former FASB Chairman Robert Herz, IMA (Institute of Management Accountants) President and CEO Jeff Thomson, and sustainability reporting expert Brad Monterio of Colcomgroup, released a jointly authored thought paper late last year, “ Leveraging the COSO Internal Control – Integrated Framework (ICIF) to Improve Confidence in Sustainability Performance Data .”
In September 2017 -- The IMA in partnership with COSO issued the following white paper on “Leveraging the COSO Internal Control—Integrated Framework to Improve Confidence in Sustainability Performance Data.” The Framework discussed in the paper focuses on internal controls organizations can establish as the first step toward digital assurance that can be applied to disclosed data. Internal controls have value beyond compliance and external financial reporting. Effective internal controls can help organizations grow on a sustained basis, with confidence and integrity in all types of data disclosed to external audiences