COSO Report
An alternative name for the *Internal Control - Integrated Framework report of 1992.

Auditor's dictionary. 2014.

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  • Treadway Commission Report — An abbreviated name for the 1987 report of the United States’ National Commission on Fraudulent Financial Reporting. Named for its chairperson, James C. Treadway (a former commissioner of the *Securities and Exchange Commission), the… …   Auditor's dictionary

  • Committee of Sponsoring Organizations of the Treadway Commission — COSO A U.S. based organization dedicated to improving *corporate governance and *financial reporting. The COSO Web site describes the organization’s aims of improving the quality of financial reporting through business ethics, effective internal… …   Auditor's dictionary

  • Internal Control - Integrated Framework — A landmark report issued in 1992 by the *Committee of Sponsoring Organizations of the Treadway Commission (COSO). Commonly known as the COSO Report, it sets out (in its own words) a standard against which businesses and other entities... can… …   Auditor's dictionary

  • money laundering — The transferring of *money derived from illegal activities into legal or legitimate channels. Money laundering is intended to conceal the illegal origins of funds, and it is commonly associated with drug trafficking and *smuggling. In the United… …   Auditor's dictionary

  • risk assessment — The identification, analysis, and measurement of *risks relating to an activity or organization. Risk assessment comprises the initial stages of *risk management, and it is one of the five components of effective *internal control identified in… …   Auditor's dictionary

  • safeguarding — The protection of an asset or activity. The safeguarding of assets is often considered to be among the main objectives of *internal controls. In * Internal Control Integrated Framework (the *COSO Report), the safeguarding of assets is included… …   Auditor's dictionary

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