The Committee of Sponsoring Organizations of the Treadway Commission, known to all of you as COSO, has taken a few lumps as of late. When Sarbox was first passed, many assumed--indeed, regulators pushed the idea--that COSO's Internal Control Integrated Framework would provide a blueprint for compliance--a roadmap to chart new territory. It hasn't turned out that way, hence the many calls for more definitive guidance from the Securities and Exchange Commission. In December, the SEC will indeed take up the issue. COSO, however, is bent on remaining relevant. It has just issued a request for proposals to develop internal control systems guidance. The COSO board is aiming to complete the project by the end of 2007. November 1st is the deadline to file your intent to submit a proposal.

For more on this:
- Here's an update [1] from WEBcpa.com