Mapping COSO and COBIT
In the light of the Sarbanes Oxley Act of 2002, public companies have embraced two frameworks: The COSO framework and the COBIT. The SEC has suggested the consideration of the COSO, but there is no such recommendation for the COBIT. However, companies would do well to ensure the integration of the COSO and the COBIT frameworks in their compliance of the SOX Act... Read more

Role of Internal Auditing in Enterprise Wide Risk Management – IIA takes a stand on ERM
Risk management is clearly the responsibility of the management. The Institute of Internal Auditors, the apex global body governing Internal Auditors, has emphasized that Internal auditors should not be making decisions on risk management. Rather they should proactively advice on management’s decision making. The audit charter as approved by the audit committee should clearly outline internal auditing’s responsibilities. Internal auditors can offer valuable advice on risk balancing because of their sound understanding of corporate governance. It is imperative, according to the IIA, for auditors not to undertake work in the area of risk management if they cannot demonstrate independence and objectivity... Read More

FAQ on COSO’s ERM – Integrated Framework
Read all about COSO’s ERM Framework and FAQ, Fast Facts….
COSO releases new ERM Framework... Read More

A FAQ on COSO’s ERM framework... Read More

COSO Fast Facts Flier... Read More

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