COSO 2013 Framework

The COSO 2013 Framework is a set of guidelines designed to help organizations effectively manage risks and improve their internal controls. It emphasizes five key components: identifying and assessing risks, creating effective controls, enhancing communication, monitoring operations, and ensuring that goals are met. By implementing this framework, organizations can safeguard their assets, improve efficiency, and ensure compliance with laws and regulations. Essentially, it provides a structured approach to make sure that a business operates smoothly, remains accountable, and adapts to changing circumstances.