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Full-Text Articles in Business
Internal Control Components: Did Coso Get It Right?, Marshall A. Geiger, Steven M. Cooper, Edmund J. Boyle
Internal Control Components: Did Coso Get It Right?, Marshall A. Geiger, Steven M. Cooper, Edmund J. Boyle
Accounting Faculty Publications
Financial accounting frauds and the attention they bring are not new. Fortunately, neither are the accounting profession’s ongoing attempts to limit these types of fraud by encouraging strong systems of internal control. In October 1986, amid growing concerns about the extent of fraudulent financial reporting, the National Commission on Fraudulent Financial Reporting (the Treadway Commission) began an extensive study and evaluation of the integrity of the U.S. system of financial reporting. The Treadway Commission’s final report, issued in 1987, provided numerous recommendations for improving the financial reporting environment and auditing standards. In response, the Committee of Sponsoring Organizations (COSO) developed …