Guidance on Monitoring Internal Control Systems (2009)

The COSO board has released a new Guide on Monitoring Guidance, designed to improve the use of monitoring by helping organizations:
- Identify and maximize effective monitoring, and
- Identify and improve ineffective or inefficient monitoring

As stated in the accompanying release, the Guide is the culmination of two years of expert critical debate, guidance brings together leading practices at large and small organizations and provides in-depth guidance for implementing the monitoring component of COSO's Internal Control—Integrated Framework

COSO's Monitoring Guidance suggests that effective and efficient monitoring is best achieved by:
- Establishing a foundation for monitoring, including a proper tone at the top, organizational structure and a baseline understanding of internal control effectiveness
- Designing and executing monitoring procedures that seek to evaluate "persuasive" information about "key controls" addressing "meaningful risks" to organizational objectives
- Assessing results and reporting them to appropriate parties

See the following link for availability and purchasing procedures:
Guidance on Monitoring Internal Control Systems (2009)