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1. 11 issues that could flare up at the next shareholder meeting   WebExclusive

BY Ken Tysiac
U.S. public companies are operating in an environment full of both risk and opportunity as they prepare for their annual shareholder meetings.Cyberthreats, disaster planning, and political and economic unrest are among many factors that make the current climate hazardous for many companies.Although high values in the stock market indicate an environment that has improved significantly—if slowly—since the lowest depths of the global financial crisis, recent dips in the market indicate that volatility still exists.Shareholders are likely to be focused on both the risks and the opportunities in upcoming shareholder meetings, according to Wendy Hambleton, CPA, a partner

2. Five key defenses against risk   WebExclusive

BY Ken Tysiac
When does a company pull the trigger on an acquisition or investment? When is expanding into a new market a prudent choice? And when is the right time to hire additional personnel or change employee benefits?These are among the many questions organizations consider through a lens of strategic opportunities and risks.

3. Align your controls with COSO’s principles   WebExclusive

BY Ken Tysiac
A mapping exercise is one of the most important activities for any organization implementing the updated 2013 internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), experts say.The updated framework includes 17 newly described principles across the five components of internal control that were present in the original, 1992 framework.

4. Put COSO update to work  

BY Doug Prawitt, CPA, Ph.D. and Ken Tysiac
Here is how organizations can implement the newly updated, principles-based internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), which was released May 14 (visit ic.coso.org). The original 1992 framework has been sharpened and refreshed to reflect the current business environment. Create a team and a plan.

5. Protiviti exec Hirth named COSO chairman   WebExclusive

BY Ken Tysiac
Robert Hirth, CPA, a founding managing director of global consulting firm Protiviti, has been named chairman of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). COSO is a joint initiative of five private-sector organizations, including the AICPA, that provides thought leadership by developing frameworks and guidance on enterprise risk management, internal control, and fraud deterrence.

6. SOX compliance costs rise for many companies, report finds   WebExclusive

BY Ken Tysiac
New developments associated with the Sarbanes-Oxley Act of 2002 (SOX) have companies changing their compliance processes more than a decade after the law was enacted, according to a new survey report. Organizations reporting rises in SOX compliance costs and external audit fees in 2012 vastly outnumbered those reporting decreases, according to global consulting firm Protiviti’s 2013 Sarbanes-Oxley Compliance Survey report.

7. Newly released COSO framework a fresh look at internal control   WebExclusive

BY Ken Tysiac
An important development in the internal control landscape was completed Tuesday with the release of an update to the integrated framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). COSO’s popular original internal control framework, released in 1992, was accepted by the SEC as a framework for attesting to internal control over financial reporting as required by the Sarbanes-Oxley Act of 2002 (SOX).

8. 8 steps to update internal control   WebExclusive

BY Doug Prawitt, CPA, Ph.D. and Ken Tysiac
Here is how organizations can implement the newly updated, principles-based internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO), which was released May 14 (visit ic.coso.org). The original 1992 framework has been sharpened and refreshed to reflect the current business environment. Create a team and a plan.

9. Eagerly anticipated COSO framework set for May release   WebExclusive

BY Ken Tysiac
The wait for the eagerly anticipated update of a popular framework for internal control is almost over. The board of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) has approved its updated Internal Control—Integrated Framework and expects to issue it May 14, according to a news release distributed Wednesday.

10. COSO searching for new chairman   WebExclusive

BY Ken Tysiac
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is seeking a new chair for a three-year term that would begin June 1. Dave Landsittel, the current COSO chairman, plans to step down after serving in that capacity for the past four years. The board chair serves in a part-time, stipend position.
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