Is anyone familiar with the 2013 COSO (Committee of Sponsoring Organizations of the Treadway Commission) Framework & Sox Compliance? This has recently been brought to my attention and it obviously is tied to the Sarbanes-Oxley Act. The information I have found states that there is a 2014 update. We are a small community bank that is not involved in public trading. Is this something I need to be concerned about or does it just apply to publicly traded companies?

It does apply even if you are not publicly traded. My first question is what is the asset size of your bank?

Less than $200 Mil.

This is not going to affect you in the near future. At the earliest this would affect you is when you get to $500 million.

Thank you so much!

We are a $360 million community bank, registered with the SEC, and we do have to comply with COSO 2013 this year. May want to talk with your CPA's if you are not sure.

That is because you are registered with the SEC.