The COSO (Committee OF Sponsoring organizations OF the Treadway Commission) is a freiwillige private-economical organization in the USA, which is to help, financial statement refunding by ethical acting to improve effective internal controls and good management qualitatively. COSO was created 1985 as platform for "“national the Commission on Fraudulent Financial reporting "“(Treadway Commission) and is supported by the five most meaning US organizations for control in the financial and account system: IIA, AICPA, PROTECT, IMA and AAA.

The COSO model (1992/94)

COSO has 1992 one of the SECOND recognized standard for internal controls, which publishes COSO model. The control model serves for to the documentation, analysis and organization of the internal control system, is limited however strongly to the financial statement refunding.

The components of the internal control system according to the COSO model are:

• Control surrounding field
• Risk evaluation
• Control activities
• Information and communication
• Monitoring

The CoCo model (1995)

In the year 1995 that presented Canadian institutes OF Chartered Accountants (CICA) with the CICA Guidance on control a more management oriented model, contains it 20 inspection criteria in 4 groups:

• Goal orientation - PUR-float
• Motivation - Commitment
• Abilities - Capability
• Adjustment - monitorings & Learning

The COSO ERM Framework (2004)

In the year 2004 COSO has an addition of its original model, which COSO ERM - Enterprise Risk management Framework publishes. The COSO ERM inserts additional elements:

• Internal control surrounding field
• Objective
• Event identification
• Risk evaluation
• Risk reaction
• Control activities
• Information and communication
• Monitoring

CobiT - a control model for IT-management (1995ff)

In connection with COSO CobiT (z.Zt. registered in the Wikipedia under Cobit) is used as control model for IT-processes and management. Another common model is ITIL.

See also

• Control model
• Corporate Governance

References

The Committee OF Sponsoring organizations OF the Treadway Commission - COSO

Canadian of institutes OF Chartered Accountants - CICA

CobiT - ISACF

Articles in category "COSO"

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