COSO Internal Control Principles for SOX
Follow-up on my 21-July-06 blog titled “Twenty Internal Control Principles for SOX”.
The Oct06 issue of Internal Auditor, has an article from Larry E. Rittenberg, COSO Chairman. He provides background to COSO’s Internal Control over Financial Reporting – Gudiance for Smaller Public Companies, Executive Summary and the Internal Control “process”.
The Chairman reminded us that the small business COSO Internal Control document is intended to address the unique needs of the financial reporting objective. However, many of the 20 principles and their attributes apply to all three control objectives: financial reporting, compliance, and operations, for both large and small companies.
The view of many in ASQ, is quality and environmental managers and engineers manage the internal business process controls for achievement of the company’s Operational Objectives. Thus these COSO Principles should have a primary importance when working business processes with Executives and / or the Finance / Accounting departments.
