Treadway Commission Report
- Treadway Commission Report
- An abbreviated name for the 1987 report of the United States’ National Commission on Fraudulent Financial Reporting. Named for its chairperson, James C. Treadway (a former commissioner of the *Securities and Exchange Commission), the establishment of the National Commission in 1985 was a reaction against the corporate accounting scandals of the early 1980s. The report stressed the important role of *audit committees and internal auditors in reducing *financial reporting fraud, and it emphasized the importance of *ethical organizational policies. The sponsors of the Treadway Commission are known as the *Committee of Sponsoring Organizations (COSO), and they have followed up the 1987 report with further *corporate governance initiatives, including Internal Control-Integrated Framework (1992). The Treadway Commission Report is available online on the COSO Web site.
Further reading: Phillips et al. (1987); Treadway Commission (1987) Web site: www.coso.org
Auditor's dictionary.
2014.
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