Rittenberg Leads COSO Effort on Monitoring Internal Controls
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is a voluntary private sector organization dedicated to improving the quality of financial reporting through business ethics, effective internal controls, and corporate governance.
COSO, which is chaired by Accounting Professor Larry Rittenberg, has issued a Request for Proposals (RFP) to develop guidance designed to help organizations monitor the quality of their internal control systems. The end product will serve as a tool for effectively monitoring internal controls, as well as complying with the U.S. Sarbanes-Oxley Act of 2002 (SOX).
According to Rittenberg, “There is a tremendous gap between the value good monitoring brings to a system of internal control and management’s understanding of that value.” He and the COSO Board have high hopes that the project, scheduled for completion by the end of 2007, will stimulate management’s awareness and utilization of effective monitoring; and consequently, will bring about stronger internal controls.
November 1, 2006
- BusinessWeek Ranks Wisconsin MBA #4 for Fastest Payback
- Wisconsin Executive MBA Program Ranked Among Best in World
- Grainger Hall Addition Animation Posted on Web
- Investment Managers Named Distinguished Business Alumni
- Webcast Explored Issues from Professor’s Textbook
- Accounting Faculty Research Wins National Attention
- FACULTY/STAFF NEWS
- May the Best Chair Win
- Students to Compete in National Tax Case Competition
- IN THE NEWS
- Rittenberg Leads COSO Effort on Monitoring Internal Controls
- Accounting Awards Banquet Honors Outstanding Achievement
- IN MEMORIAM
- BUSINESS BRIEFS
- CIBER News
Print the entire issue
Submissions
The next issue of the School of Business Gazette will be distributed Dec. 1. Submissions should be sent by Nov. 27 to Lari Fanlund, lfanlund@bus.wisc.edu.