SEC - Update on transition to COSO 2013 framework 

July 22:  The Securities and Exchange Commission (SEC) recently announced a plan to monitor the transition for issuers using the 1992 framework to evaluate whether and if any staff or Commission actions will become necessary or appropriate at some point in the future.

Following the May 2013 issuance by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) of its 2013 Internal Control – Integrated Framework:


  • COSO believes that users need to transition their applications and related documentation to the updated framework as soon as it is feasible under their particular circumstances.
  • COSO will continue to make available its original framework during the transition period extending to December 15, 2014, after which time COSO will consider it as superseded by the 2013 framework.

Read a July 2013 report [PDF 100 KB] prepared by KPMG LLP: Defining Issues: Update on Transition Date for COSO 2013 Framework




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