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What are the key characteristics of the COSO framework? Do you think that SOX has very...

What are the key characteristics of the COSO framework? Do you think that SOX has very been effective? Why or why not?

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The committee of sponsoring Organization of the tread way Commission (COSO)

COSOproviding leadership and guidance on internal control,

Enterprise risk management (ERM) and

Fraud deterrence

(a) has released its long-awaited updated Internal Control,

(b) Integrated Framework (New Framework).

The original version (framework), released by COSO in 1992, has gained broad acceptance. It has been widely used, particularly as a suitable - and the prdominant - framework in conjunction with reporting on the effectiveness of internal control over financial reporting by public companies listed in the United states in accordance with section 404 of the sarbanes oxley act.

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