Primary navigation:

QFINANCE Quick Links
QFINANCE Reference
Add the QFINANCE search widget to your website

Home > QFINANCE Dictionary > Definition of CoCo

Definition of


Regulation & Compliance

Canadian framework for internal regulation a system for evaluating the internal controls over financial reporting. The Criteria of Control Board (CoCo) is charged by the Board of Governors of the Canadian Institute of Chartered Accountants with issuing guidance on designing, assessing, and reporting on the control systems of organizations.

CoCo - Related Articles
  • Internal Control Frameworks: COSO, CoCo, and the UK Corporate Governance Code


    The CoCo (criteria of control) framework was first published by the Canadian Institute of Chartered Accountants in 1995. This model builds on COSO and is thought by some to be more concrete and user-friendly. CoCo describes internal control as actions that foster the best result for an organization

  • Keeping Money in the Bank


    In this case, the United Kingdom’s Lloyd’s Bank, which is 43% government-owned, has devised a form of hybrid known as contingent convertible or CoCo bonds. The European Union has objected to banks rescued by the state paying coupons on hybrids, so, as a way out, last November Lloyds exchanged existing hybrids into CoCos, which convert to equity if the bank’s Tier 1 ratio falls below 5%.
    By Brian Caplen

  • Implementing an Effective Internal Controls System

    Best Practice

    overall conclusions. Use the results from this process as a continuous improvement tool to improve the internal control system. 1 Other recognized internal control frameworks are the Canadian “CoCo” framework, and the United Kingdom’s Turnbull framework. 2 King Report on Corporate Governance
    By Andrew Chambers


Definitions of ’CoCo’ and meaning of ’CoCo’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’CoCo’ and other financial terms with our online QFINANCE Financial Dictionary.

Back to top