COSO Resource Center

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has released its Guidance on Monitoring Internal Control Systems. Developed by COSO and led by a diverse Grant Thornton LLP team, the purpose of the guidance is to assist organizations in monitoring the effectiveness of their internal control systems and taking timely corrective actions as needed.

COSO engaged Grant Thornton in January 2007 to lead the development of the project after concluding there was a need for more guidance on effectively monitoring internal controls, as well as complying with the U.S. Sarbanes-Oxley Act of 2002 (SOX). The initiative included Grant Thornton partners and was led by Grant Thornton National Managing Partner of Corporate Governance Trent Gazzaway. Overseeing the project was a task force of representatives from COSO's five sponsoring organizations as well as other experts. Other participants included members of the U.S. Government Accountability Office and representatives from audit firms and both large and small companies. A group from the SEC and the PCAOB observed the project proceedings. Because of the importance of the initiative, the guidance was twice exposed for public comment before final publication.

Learn more about the COSO monitoring guidance:

• Read the COSO guidance press release
• Replay the press conference
• Read the Introduction to Guidance on Monitoring Internal Control Systems
• Read “COSO’s New Guidance for Monitoring Internal Control” from FEI magazine
• Watch COSO project manager Trent Gazzaway discuss the COSO guidance on Financial Management Network
• Read the COSO issue of CorporateGovernor Newsletter
• Visit the COSO website