Internal Control

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Internal Control Publications

Whether you are an auditor assessing internal control at your client, a preparer signing off on controls, a board member assessing organizational exposure, or a small business owner concerned with minimizing fraud, the AICPA is committed to providing the information and tools you need to understand internal control issues. In addition to our own publications, we are proud to serve as the publishing partner to COSO and committed to the mission of providing guidance and tools to serve our members in every area of the profession.

COSO Releases Updated Internal Control Framework

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its revisions and updates to the 1992 document Internal Control - Integrated Framework. COSO’s goal in updating the framework was to increase its relevance in the increasingly complex and global business environment so that organizations worldwide can better design, implement, and assess internal control. COSO believes this framework will provide organizations significant benefits; for example, increased confidence that controls mitigate risks to acceptable levels and reliable information supporting sound decision making.

More information about the updated framework is available in the Journal of Accountancy article "Newly released COSO framework a fresh look at internal control" and on the Financial Reporting Center.

Spotlight

Internal Control - Integrated Framework and Compendium Bundle (2013)
This four volume bundle contains COSO's new Internal Control - Integrated Framework, its executive summary, and appendices. In addition, the bundle contains Illustrative Tools for Assessing a System of Internal Control and Internal Control Over External Financial Reporting: A Compendium of Approaches and Examples. Finally, the bundle also includes a link to an Excel file containing four different, customizable templates from the illustrative tools, including overall assessment, components, principles, and deficiencies.

Risk Assessment for Mid-Sized Companies: Tools for Developing a Tailored Approach to Risk Management
Organizations often struggle with the concept of enterprise risk management, or ERM. Addressing risk is a critical element in surviving today’s challenging economic environment. The heart of ERM is the risk assessment process that has evolved from the COSO framework. For the CPA or CFO who is familiar with the COSO guidance, Risk Assessment for Mid-Sized Companies transforms that guidance into actionable ERM processes.

Case Studies on Enterprise Risk Management Implementation
This publication takes you directly into the experience of a company whose management is starting to formally address risk assessment and management. Walk through the company's process, working with the board, senior management, and the management team to identify and rate significant risk categories. The central case study details each step of initiating and implementing a risk assessment and management program, clarifying and demystifying the process. Fourteen tables, charts, and templates, a memorandum to the management team, and pointers for running productive and efficient meetings give you an immediate head start in beginning your own process.

Enterprise Risk Management - Integrated Framework

In response to a need for principles-based guidance to help entities design and implement effective enterprise-wide approaches to risk management, COSO issued the Enterprise Risk Management - Integrated Framework in 2004. This framework defines essential enterprise risk management components, discusses key ERM principles and concepts, suggests a common ERM language, and provides clear direction and guidance for enterprise risk management. The guidance introduces an enterprise-wide approach to risk management as well as concepts such as risk appetite, risk tolerance, and portfolio view. This framework is now being used by organizations around the world to design and implement effective ERM processes.

Featured Products

Internal Control - Integrated Framework: Executive Summary, Framework and Appendices, and Illustrative Tools for Assessing Effectiveness of a System of Internal Control (3 volume set)

Issued by COSO, the 2013 Internal Control–Integrated Framework (Framework) is expected to help organizations design and implement internal control in light of many changes in business and operating environments since the issuance of the original Framework in 1992.

Internal Control - Integrated Framework: Internal Control Over External Financial Reporting: A Compendium of Approaches and Examples

This publication has been developed to assist those users of the Internal Control – Integrated Framework (2013) who are responsible for designing, implementing, and conducting a system of internal control over external financial reporting that supports the preparation of financial statements and other external financial reporting.

Multiple User Licenses and Permissions

We understand that your needs may extend beyond personal use of a publication. Many AICPA publications can be delivered in electronic form under multiple user licenses. Our Licensing Team is available to assist you with understanding available products and terms.

If you would like to reprint or reuse material from an AICPA or COSO publication, AICPA Rights and Permissions is available to assist you.

Publish With the AICPA

Did you know that AICPA Publications accepts proposals from and publishes the work of thought leaders on internal control topics? For information about our publishing program and how to submit a book proposal e-mail acquisitions@aicpa.org.