Question

"Committee of Sponsoring Organizations of the Treadway Commission (COSO) Strengthens Internal Controls over Financial Reporting – Yay or Nay?"

• Support or critique the idea that the Committee of Sponsoring Organizations of the Treadway Commission (COSO) transition would strengthen internal controls over financial reporting in publicly traded companies. Provide your rationale.

Answer 1

In my opinion the committee of Sponsoring Organisation of the Treadway Commission (loso) transition would cause strong internal Controls in publicly traded companies over! financial reporting. The requirement of revamping the frome work arises from the Continued Evolution of international markets, vital changes to Bussiness models and more usuage of shared and / or outsourced Services, regulation rule, policy and standard changes becoming more complex thus causing a rise in the demands on companies the continued innovations in technology for Bussiness processes, performance, and decision making improvements and higher expectations of stakeholders and regulators of risk management governance oversight and the prevention and detection of fraud The technology and globalization have accelerated in Since 1992. fo today's world it seemed prudent to undate so that the new framework better reflects the globalization and technology that have become significant poort of the Bussiness Environment currently,