COSO Committee of Sponsoring Organizations of the Treadway Commission
The effectiveness of internal control is limited by the realities of human frailty in the making of business decisions. Such decisions must be made with human judgment in the time available, based on information at hand, subject to management biases, and under the pressures of the conduct of business. Some decisions based on human judgment may later, with the clarity of hindsight, be found to produce less than desirable results, and may need to be changed.
Generated November 9, 2014 22:46:48 |