Companies choosing to stick with the old COSO internal control framework this year might find a mention of that fact by auditors in the audit report.
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Makes sense, if a company uses or is required to use COSO, to mention that a company hasn’t yet switched or is in the process of switching to COSO 2013. But I’m not sure the market will really care either. COSO switch of course is an area of audit committee oversight. I do believe it will be interesting to see what if anything the outside independent auditors do different and/or disclose different with COSO 2013 and the 17 principles. Will the auditors discuss the company’s level of compliance with the 17 principles?