Auditors and companies looking to adhere to a proposed internal control framework for financial reporting were told yesterday at a Baruch College auditing conference not to sweat the actual implementation date when the draft framework is finalized in March 2013. Comparing the new framework from the Committee of Sponsoring Organizations of the Treadway Commission (COSO) to Microsoft’s Windows 8, David Landsittel, chairman of COSO, said that users may initially favor the older framework, which will be “available as long as the market wants it.” But the new version will be “more robust” than the previous version, which dates back to 1992. [CFO]
Get Between the Spreadsheets with us.
No time for another typical newsletter? It's not exactly news, and it's definitely not typical. Just check out our archive.
Let's All Enjoy This Story of a Rich Guy Who Procrastinated on His Taxes and Missed Out on a $1 Million Refund0 2,978
Accountants Behaving Badly Accounting jobs Accounting News AICPA Auditors BDO Big 4 Busy season Career advice CFOs China Compensation CPA Exam CPAs Deloitte Ernst & Young EY FASB Footnotes Fraud Grant Thornton IASB IFRS Interns IRS Job of the Day KPMG Lawsuits Layoffs Lehman Brothers McGladrey NASBA Need a job? Partners PCAOB Politics Promotions Public Accounting PwC Quote of the Day Raises or Lack Thereof Rumors SEC Small Business Studying for the CPA exam Tax cuts Taxes Tax policy Technology Twitter