09-29-2009, 03:02 AM
Dotkom
In fact your question calls for an answer without any boundries. At forums, I suggest very relevant, concise and specific questions should be asked.
You are asking why not other frameworks are suiting best to the banking sector but are not providing any example of such other suggested frameworks to get a comparison or SWOT in response.
Do you expect people to list down the comparative frameworks and then tell you what merits COSO has over others? I mean this is not a question requiring answer; rather the question calls for a thesis. This is simply sort of the question that "why IFRSs is considred better than rest of the accounting frameworks developed by different standard setters in the world like U.S. or Newzealand or Austrailia or U.K.etc?
Have you searched for the background of COSO, what it actually is, what this abbreviation stands for, why and how it was developed, who was behind its development and what it in fact entails?
I guess certainly not! So you first take a bit of its understanding and then come here to ask a relevant question.
Besides the above, will you please simply quote examples of some of other such frameworks found in the world specially banks?
I may also mention that in Pakistan some companies other than banking sector have also started working on COSO framework (after some customization) and are thinking on its implementation. You will sooner or later see it growing across the sectors. It's my guess.
Counting on you!
Regards,
Kamran.
In fact your question calls for an answer without any boundries. At forums, I suggest very relevant, concise and specific questions should be asked.
You are asking why not other frameworks are suiting best to the banking sector but are not providing any example of such other suggested frameworks to get a comparison or SWOT in response.
Do you expect people to list down the comparative frameworks and then tell you what merits COSO has over others? I mean this is not a question requiring answer; rather the question calls for a thesis. This is simply sort of the question that "why IFRSs is considred better than rest of the accounting frameworks developed by different standard setters in the world like U.S. or Newzealand or Austrailia or U.K.etc?
Have you searched for the background of COSO, what it actually is, what this abbreviation stands for, why and how it was developed, who was behind its development and what it in fact entails?
I guess certainly not! So you first take a bit of its understanding and then come here to ask a relevant question.
Besides the above, will you please simply quote examples of some of other such frameworks found in the world specially banks?
I may also mention that in Pakistan some companies other than banking sector have also started working on COSO framework (after some customization) and are thinking on its implementation. You will sooner or later see it growing across the sectors. It's my guess.
Counting on you!
Regards,
Kamran.
