文档介绍：外文翻译
原文:
What the COSO report means for internal auditors
Introduction
Globalization of business, technological advancements, increasing business failures, and widely publicized fraud in the USA and abroad have anizations to place more emphasis on their internal control systems and internal audit functions. After more than three years of studying internal control, mittee of anizations of the mission (COSO) issued the report entitled Internal Control-integrated Framework in September 1992[1]. The COSO report re-emphasizes the importance of internal controls in achieving an entity’s objectives and provides the impetus for entities to refocus attention on their systems of internal controls in an attempt to ensure responsible corporate governance and reliable financial reporting processes. The COSO report consists of four volumes:
(1) an executive summary which highlights the overall conclusions of the report; (2) a framework which mon definition and criteria to assess internal control;
(3) reporting to external parties regarding financial reporting objectives of internal control which presents new guidelines for publicly reporting on the effectiveness and adequacy of internal control systems;
(4) evaluation tools which provide guidance for evaluating the effectiveness of internal control systems.
The provisions of the COSO report are:
help entities to understand better the value and importance of a good internal control system;
expand the elements ponents of internal control;
provide guidelines for establishing criteria against which all entities can assess the adequacy and effectiveness of their internal control systems.
The COSO report will have a significant impact on the increasing role and responsibilities of internal auditors,
especially their involvements with the entity’s internal control system. It is a milestone in the evolution of internal control which refocuses public attention on the need for public reporting on internal controls. The purpo