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1. Are you a member of one or more of the COSO organizations?
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2. Are you responding on behalf of yourself or an organization or company?
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3. Where do you reside?
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4. Where within your organization do you apply the COSO Framework?
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__4a. Compliance activities
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__4b. External financial reporting
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__4c. External non-financial reporting
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__4d. Internal management reporting (financial or non-financial)
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__4e. Internal control reporting
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__4f. Internal audit
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__4g. Operations activities
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__4h. Other
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5. The updated Framework will help strengthen an entity’s systems of internal control
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6. The updated Framework is internally consistent and logical
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7. The updated Framework is written in a manner that is understandable and provides ease of use
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8. The updated Framework is applicable to organizations of varying legal structures and sizes, and operating in various geographies and industries
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9. The updated Framework will impose additional burdens on entities’ reporting on internal control – e.g. reporting on internal control over external financial reporting based on Sarbanes–Oxley Act of 2002 ( SOX) requirements
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__9A. If you believe that there is an additional burden, is the change appropriate? If not, why not?
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10. Compared to the 1992 framework, the updated Framework creates a higher threshold for attaining effectiveness of internal control
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11. The 17 principles set out in the updated Framework a complete set of principles
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12. The 17 principles with related attributes are helpful in describing important considerations of an effective system of internal control
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13. There are necessary changes to the principles
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14. An entity can conclude that it has effective internal control if one or more of the 17 principles are not present and functioning
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15. The updated Framework appropriately expands the reporting objective category (i.e. internal and external reporting, financial and non-financial reporting)
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16. The expanded reporting objective, and the manner in which this objective category is presented in the Framework, does not diminish our ability to apply the Framework when reporting on internal control over external financial reporting
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17. The updated Framework provides an appropriate balances of reporting, operations, and compliance related approaches and examples
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18. Are there any other general comments that you would like to provide?
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What is your COSO Affiliation?
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What is your entity's legal structure?
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What is your entity's revenue?
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Where do you reside?
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What is your role within the organization?
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What is your organization’s industry?
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