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 establishment of the National Commission in 1985 was a reaction against the corporate accounting scandals of the early 1980s. The report stressed the important role of *audit committees and internal auditors in reducing *financial reporting fraud, and it emphasized the importance of *ethical organizational policies. The sponsors of the Treadway Commission are known as the *Committee of Sponsoring Organizations (COSO), and they have followed up the 1987 report with further *corporate governance initiatives, including Internal Control-Integrated Framework (1992). The Treadway Commission Report is available online on the COSO Web site. Further reading: Phillips et al. (1987); Treadway Commission (1987) Web site: www.coso.org

Auditor's dictionary. 2014.

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