Beyond COSO: Strengthening Internal Control for Corporate Governance: Strengthening Internal Control for Corporate Governance

Author: Steven J. Raut
Publisher:
Publish Date: 2004-08-01
Features: Beijing National Academy of Finance and Economics Management Classics Series. Due to the inherent weaknesses in governance mechanisms in most Chinese enterprises, the challenges of corporate governance and internal control have become increasingly significant. Therefore, the need for establishing practical internal control procedures and evaluation criteria within enterprises has grown stronger. The Committee of Sponsoring Organizations of the Treadway Commission (COSO), the initiating organization of the National Commission on Fraudulent Financial Reporting, published the report "Internal Control – Integrated Framework" in 1992, which marked a milestone in the development of international internal control theory. This book provides a clear explanation of the complex COSO report and the feasibility of its requirements, and constructs a more rigorous internal control system based on the COSO framework by comparing it with other popular internal control standards. The system offers internal control oversight procedures, identifies challenges in internal control oversight, provides expert advice on more effective implementation of internal control functions, and includes numerous ready-to-use internal control documents. This book offers practical guidance on internal control for company directors and business managers, serves as a valuable working guide for internal and external auditors, CFOs, and audit committee members, and can also be used as the preferred textbook for relevant training.