从内部控制到企业的风险管理外文翻译.docVIP

外文翻译 原文 From internal control to enterprise risk management. Material:/legal/laws-government-regulations/400210-1.html Author: Stephen J. Gauthier In September 2004, the Council of Sponsoring Organizations of the Treadway Commission on Fraudulent Financial Reporting issued Enterprise Risk Management--Integrated Framework. The new publication is intended to provide a more robust framework for COSOs earlier seminal work Internal Control--Integrated Framework (1992). BACKGROUND In the early 1990s, the Treadway Commission came to the conclusion that a broad conceptual framework was necessary if managers were to be properly equipped to meet their responsibility for internal control. The key features of this conceptual framework, as set forth in Internal Control--Integrated Framework, can be very briefly summarized as follows: * Managers are responsible for achieving three basic objectives: (1) they must operate effectively and efficiently, (2) they must produce financial reports that outside parties can reasonably rely upon, and (3) they must comply with applicable laws and regulations. * Managers cannot leave the achievement of these objectives to chance. Rather, they must create a structure or framework of internal control to ensure that each of these objectives is met. * A truly comprehensive framework requires five components: (1) the establishment and maintenance of a sound control environment (corporate culture): (2) the regular, ongoing assessment of risk, (3) the design, implementation, and maintenance of control-related policies and procedures to compensate for identified risks; (4) adequate communication; and 5) the regular, ongoing monitoring of control-related policies and procedures to ensure that they continue to function as designed and to ensure that identified problems are handled appropriately. The first COSO report was extraordinarily well received. Indeed, its comprehensive framework of internal control has provided t