Tag Archives: Sandford Liebesman

#9 – ISO 9001 RISK CHALLENGES – SANDFORD LIEBESMAN

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The global economy has provided organizations with many opportunities that didn’t exist even ten years ago. But it also presents organizations with many risks because of the flattening of the Earth via the Internet and extensive outsourcing to countries such as China, Mexico and other nations.The designers of COSO, the guidance commonly used for compliance support of Sarbanes-Oxley Law (SOX), recognized as early as1992 the importance of risk management by including it as one element of the system of internal control. And now ISO 9001 developers are including risk in the 2015 revision. Continue reading →

#6 – CHANGES COMING SOON TO ISO 9001 AND COSO – SANDFORD LIEBESMAN – QUALITY@RISK

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I’m a committee member for two very different standards—ISO 9001 and the COSO internal control guidance document used to comply with the requirements of the Sarbanes-Oxley Act (SOX).1  While these documents cover different activities in an organization, they share a need to update the current versions.

COSO is a management system that was originally developed in the 1980s in response to the savings and loan scandal.  It is used for internal control over operations and compliance to external financial reporting requirements.  COSO consists of five elements used to manage systems of internal control: Continue reading →