Report outlines 26 fundamental principles
A U.S. business group today published for comment new guidance for smaller businesses in fulfilling the requirements of internal control reporting of the Sarbanes-Oxley Act, known as section 404.
The guidance was published by a group known as the Committee of Sponsoring Organizations of the Treadway Commission, a voluntary private sector organization dedicated to improving the quality of financial reporting through business ethics, effective internal controls, and corporate governance. COSO comprises The Institute of Internal Auditors, the American Accounting Association, the American Institute of Certified Public Accountants, Financial Executives International, and the Institute of Management Accountants.
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