The COSO framework was the model considered when the Federal Deposit Insurance Corporation Improvement Act (FDICIA) was enacted in 1991. Section 112 of FDICIA requires management to report annually on the quality of internal controls and outside auditors to attest to that control evaluation.
Obviously, progress in this area also depends on the interest expressed by the European multinationals themselves. Among the other important new statistics that are in the pipeline, I would like to single out the forthcoming geographical breakdown of counterparties in the euro area balance of payments and international investment position.