Securities and Exchange Commission staff told the Center for Audit Quality's SEC Regulations Committee that it will follow the lead of remarks made by the Committee of Sponsoring Organizations of the Treadway Commission that companies should transition to the newly updated COSO framework for internal controls. The SEC is more likely to question issuers that continue to use the 1992 framework after the Dec. 15, 2014, transition date. Learn how to create a solid structure for a risk-management process in "Risk Assessment for Mid-Sized Organisations: COSO Tools for a Tailored Approach, 2nd Edition."

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