Use Case COSO Integrated Framework – SOX 404 & FDICIA 112
Use Case: The New COSO Integrated Framework is an important development as it facilitates efforts by banks to develop cost-effective systems of internal control to achieve business objectives and sustain and improve performance. The new version is the predominant method for reporting on the effectiveness of internal control over financial reporting by public companies as required by Section 404 of the Sarbanes-Oxley Act.
Who Should Assess the Risk? Chief Administrative Officer, Chief Operating Officer, Chief Financial Officer, Internal Auditor