The Committee of Sponsoring Organizations of the Treadway Committee (COSO)

question 26

Essay

The Committee of Sponsoring Organizations of the Treadway Committee (COSO) analyzed the financial reporting of public companies during the 1998-2007 periods when business failures due to accounting fraud were high. Describe the major findings of COSO with respect to financial statement fraud.

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Definitions:

Modern America

Refers to the contemporary social, political, and economic conditions and cultural trends in the United States.

Motor Skills

Abilities required to perform movements and tasks, involving the coordination of muscles and the nervous system.

Fine

Of high quality; exhibiting excellence or precision, often used to describe delicate or subtle distinctions.

Manipulative

Relating to or characteristic of manipulating others for one's own advantage, often in a deceitful or unfair way.