09-22-2005, 03:03 PM
http//www.sbp.org.pk/DFI_index.asp
Please follow the link. Though SBP has not mentioned in its circular for specific compliance with COSO but its contents are similar to that of COSO like components of internal controls etc.
It states that;
"Various models/methodologies are used for the design and implementation of internal controls.
However, it is the decision of the organizations to decide what model / strategy suit the size,
nature, complexity, scope, risk exposure, etc. of their activities."
So there is no specific requirement for compliance with the COSO but with the SBP guidelines.
Regards.
------------------------------------------------
If you are a politician then you are a lier, but if you are a lier you may not be a politician!
------------------------
Be careful! Words speak....
Please follow the link. Though SBP has not mentioned in its circular for specific compliance with COSO but its contents are similar to that of COSO like components of internal controls etc.
It states that;
"Various models/methodologies are used for the design and implementation of internal controls.
However, it is the decision of the organizations to decide what model / strategy suit the size,
nature, complexity, scope, risk exposure, etc. of their activities."
So there is no specific requirement for compliance with the COSO but with the SBP guidelines.
Regards.
------------------------------------------------
If you are a politician then you are a lier, but if you are a lier you may not be a politician!
------------------------
Be careful! Words speak....
