1. COSO framework internal controls fraud deterrence

    A newly released framework by COSO provides practical applications to help companies shore up internal controls. Kathleen Hoffelder * Article * Comments (0) * * Repost This | Like Email Print Single Page Minus Text Size Plus CFOs and their staffs could gain some mental clarity about how to apply internal controls more effectively in the form of a guidance document released last week, its framers think. Their intent, after all, is to provide more practical details than the framework it replaces.

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    1. There's more importance of the oversight role of the board of directors and the importance of the oversight role of the audit committee. Those were in the 1992 framework but we've extended the discussion of that.
    2. It also mentions the compensation committee, which wasn't mentioned at all back in 1992.