Auditors and companies looking to adhere to a proposed internal control framework for financial reporting were told yesterday at a Baruch College auditing conference not to sweat the actual implementation date when the draft framework is finalized in March 2013. Comparing the new framework from the Committee of Sponsoring Organizations of the Treadway Commission (COSO) to Microsoft’s Windows 8, David Landsittel, chairman of COSO, said that users may initially favor the older framework, which will be “available as long as the market wants it.” But the new version will be “more robust” than the previous version, which dates back to 1992. [CFO]
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Ed. note: on July 13 we contacted AAP media relations to request salary ranges for accounting positions referenced in the below 10-Q disclosure. We don’t expect a response but if we get one, we’ll update. The Wall Street Journal wrote today about recent disclosures made by Advance Auto Parts, Joby Aviation, and Germany’s Evotec that specifically point […]
The February gloom was broken recently by the news that the British government will be introducing reforms targeting company financial reporting and audit oversight. In truth, none of this should be a surprise. There have been several accounting scandals in recent years where the directors of various companies have been unscrupulous and their external auditors […]