美国反舞弊性财务报告委员会发起组织的报告外文翻译.docx

1、美国反舞弊性财务报告委员会发起组织的报告外文翻译本科毕业论文（设计）外 文 翻 译外文题目 Committee of sponsoring organizations of the treadway Commission 外文出处 Enterprise risk management 外文作者 Committee of sponsoring organizations 原文：Committee of sponsoring organizations of the treadway commissionOrganizational overviewCOSO was formed in 1985

2、to sponsor the National Commission on Fraudulent Financial Reporting (the Treadway Commission). The Treadway Commission was originally jointly sponsored and funded by five main professional accounting associations and institutes headquartered in the United States: the American Institute of Certified

3、 Public Accountants (AICPA), American Accounting Association (AAA), Financial Executives International (FEI), Institute of Internal Auditors (IIA) and the Institute of Management Accountants (IMA). The Treadway Commission recommended that the organizations sponsoring the Commission work together to

4、develop integrated guidance on internal control. These five organizations formed what is now called the Committee of Sponsoring Organizations of the Treadway Commission.The original chairman of the Treadway Commission was James C. Treadway, Jr., Executive Vice President and General Counsel, Paine We

5、bber Incorporated and a former Commissioner of the U.S. Securities and Exchange Commission. Hence, the popular name Treadway Commission. Currently, David L. Landsittel replaced Larry E. Rittenberg as the COSO Chairman.HistoryDue to questionable corporate political campaign finance practices and fore

6、ign corrupt practices in the mid -1970s, the U.S. Securities and Exchange Commission (SEC) and the U.S. Congress enacted campaign finance law reforms and the 1977 Foreign Corrupt Practices Act (FCPA) which criminalized transnational bribery and required companies to implement internal control progra

7、ms. In response, the Treadway Commission, a private-sector initiative, was formed in 1985 to inspect, analyze, and make recommendations on fraudulent corporate financial reporting.The Treadway Commission studied the financial information reporting system over the period from October 1985 to Septembe

8、r 1987 and issued a report of findings and recommendations in October 1987 titled Report of the National Commission on Fraudulent Financial Reporting. As a result of this initial report, the Committee of Sponsoring Organizations (COSO) was formed and it retained Coopers & Lybrand, a major CPA firm,

9、to study the issues and author a report regarding an integrated framework of internal control.In September 1992, the four volume report entitled Internal Control Integrated Framework was released by COSO and later re-published with minor amendments in 1994. This report presented a common definition

10、of internal control and provided a framework against which internal control systems may be assessed and improved. This report is one standard that U.S. companies use to evaluate their compliance with FCPA. According to a poll by CFO Magazine released in 2006, 82% of respondents claimed they used COS

11、Os framework for internal controls. Other frameworks used by respondents included COBIT, AS2 (Auditing Standard No. 2, PCAOB), and SAS 55/78 (AICPA).Internal control - integrated framework Key concepts of the COSO frameworkThe COSO framework involves several key concepts: Internal control is a proce

12、ss. It is a means to an end, not an end in itself. Internal control is affected by people. Its not merely policy, manuals, and forms, but people at every level of an organization. Internal control can be expected to provide only reasonable assurance, not absolute assurance, to an entitys management

13、and board. Internal control is geared to the achievement of objectives in one or more separate but overlapping categories. Use of the capability maturity modelThe capabilities of an organization in relation to the COSO model could be assessed based on universal states or plateaus that organizations

14、typically target. The descriptions are incremental.The capability descriptions are based on evolution toward generally recognized best practices. Each organization determines which level of maturity would be the most appropriate in support of its business needs, priorities and availability of resour

15、ces. A rating system of “0” to “5” is used. A rating of “5” does not necessarily mean “goodness”, but rather, maturity of capability. The ideal maturity rating for any area is dependent on the needs of the organization. The different and progressive plateaus are: 0 Non-existent when:The organization

16、 lacks procedures to monitor the effectiveness of internal controls. Management internal control reporting methods are absent. There is a general unawareness of IT operational security and internal control assurance. Management and employees have an overall lack of awareness of internal controls.1 Initial/Ad Hoc when:Management recognizes the need for regular IT management and control assurance. Individual