Page 366 - COSO Guidance Book

Authors

Richard J. Anderson, MBA, CPA Dr. Mark L. Frigo, PhD, CPA, CMA, CGMA
Clinical Professor Distinguished Professor Emeritus
Strategic Risk Management Lab Co-founder and Director Emeritus

Strategy, Execution and Valuation Initiative & Strategic Risk Management Lab
Kellstadt Graduate School of Business
Driehaus College of Business - School of Accountancy & MIS
DePaul University

Acknowledgements
We would like to recognize the COSO Board: Paul J. Sobel (Chair), Richard F. Chambers (IIA), Bob Dohrer (AICPA),
Daniel C. Murdock (FEI), Douglas F. Prawitt (AAA), Jeffery C. Thompson (IMA) and Mark Beasley (North Carolina
State University), Paul Walker (St. John’s University) and Frank Martens (Pacific Risk Services) for their comments
in helping us develop this thought leadership paper and to Ray Whittington and Dean Misty Johanson
at DePaul University for their support of our work.

COSO Board Members

Paul J. Sobel Daniel C. Murdock
COSO Chair Financial Executives International

Douglas F. Prawitt Jeffrey C. Thomson
American Accounting Association Institute of Management Accountants
Bob Dohrer Richard F. Chambers
American Institute of CPAs (AICPA) The Institute of Internal Auditors

Preface

This project was commissioned by the Committee of Sponsoring Organizations of the Treadway Commission
(COSO), which is dedicated to providing thought leadership through the development of comprehensive
frameworks and guidance on enterprise risk management, internal control, and fraud deterrence designed to
improve organizational performance and governance and to reduce the extent of fraud in organizations.
COSO is a private-sector initiative jointly sponsored and funded by the following organizations:

American Accounting Association (AAA)

American Institute of CPAs (AICPA)

Financial Executives International (FEI)

The Institute of Management Accountants (IMA) Committee of Sponsoring Organizations
of the Treadway Commission
The Institute of Internal Auditors (IIA) c oso . or g