The Adoption and Consequences of COSO 2013

Tadesse, Amanuel F.; Rosa, Gina Cavalier; Parker, Robert J.

doi:10.2308/horizons-18-123

Cited by 3 publications

(1 citation statement)

References 37 publications

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“…Source: (Tadesse et al, 2022) COSO ( 2013) Internal control is a broad structure influenced by an entity's board of directors, senior management, and other employees that provides reasonable assurance that the entity's core objectives are being met. The framework consists of five components: (1) the control environment, (2) risk assessment, (3) control activities, (4) information and communication, and (5) monitoring activities.…”

Section: Similarities Differencesmentioning

confidence: 99%

Assessing the Impact of Blockchain Technology on Internal Controls Within the COSO Framework

Kazan,

Kocamış

2023

JCGIRM

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Developments in Blockchain technology and their increasing adoption have prompted examination of intersections with organizational internal control systems. Technological solutions leveraging blockchain reportedly enhance operational effectiveness and efficiency, core internal control objectives. Such improvements could increase financial and non-financial reporting reliability and facilitate regulatory compliance. The Committee of Sponsoring Organizations' (COSO) internal control framework provides a systematic methodology for designing and implementing effective controls utilizing blockchain technologies. Within the COSO 2013 framework's context, this study aims to identify risks that may arise from blockchain technology integration into financial reporting processes and outline corresponding control formulations. Specific focal points involve risk evaluation associated with blockchain technology adoption and control implementation proposals addressing identified issues. If properly designed, controls may optimize blockchain technology capabilities for transparent, accountable, and sustainable value generation. This initial examination offers strategic guidance on evidence-based advancement of business-community symbiosis locally and globally through continuous policy evolution. Regional contextualization and adaptability to emerging complexities will determine durability of theoretical edifices established.

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Section: Similarities Differencesmentioning

confidence: 99%

Assessing the Impact of Blockchain Technology on Internal Controls Within the COSO Framework

Kazan,

Kocamış

2023

JCGIRM

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Impact of audit committee social capital on the adoption of COSO 2013

Naderi

Islam

Tadesse

et al. 2024

Advances in Accounting

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Measuring the Level of Awareness of COSO Internal Control Standards in Metropolitan Municipalities in Turkey

BARAL

ÇAKIRSOY²

2023

MMI

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Internal control is a management control built by managers to achieve organizational goals and ensure sustainability. COSO (Committee of Sponsoring Organizations), consisting of five independent organizations in the USA (United States of America), pioneered the internal control system to become a standard structure. COSO's internal control model covers five primary dimensions: control environment, risk assessment and management, control activities, information and communication, and monitoring. Through these five closely related dimensions, it serves to ensure organizational effectiveness by building an orderly system. It is a structure developed for organizations to manage the risks they encounter successfully and ensure the sustainability of organizational processes. In this way, organizations provide advantages such as reducing risks, increasing the reliability of financial statements, and becoming more compliant with the laws and regulations that must be complied with. It is essential to know about these standards and their implementation for organizations. Implementing these standards in the public sector is also noteworthy, and it has especially come to the fore in the activities of metropolitan municipalities. This research aims to determine the level of awareness of COSO internal control standards in metropolitan municipalities in Turkey. The general secretary, deputy general secretaries, and authorized persons in strategic planning and financial services (N = 149) working in 30 metropolitan municipalities in Turkey participated in the research. The sample group comprises officials selected by the purposive sampling method. Data were obtained by online survey. Frequency analysis, analysis of descriptive statistics, tests to examine differences, and correlation analysis was used in the data analysis. According to the findings, it has been determined that the efficiency of the COSO internal control standards in metropolitan municipalities is almost at the expected level. A strong correlation was obtained between the structures comprising the COSO internal control standards. The findings are discussed from a theoretical and practical point of view. Then, various suggestions are presented for decision-makers and future research.

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The Adoption and Consequences of COSO 2013

Cited by 3 publications

References 37 publications

Assessing the Impact of Blockchain Technology on Internal Controls Within the COSO Framework

Assessing the Impact of Blockchain Technology on Internal Controls Within the COSO Framework

Impact of audit committee social capital on the adoption of COSO 2013

Measuring the Level of Awareness of COSO Internal Control Standards in Metropolitan Municipalities in Turkey

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