COSO Framework

The COSO Framework is a model designed to help organizations manage risk and improve their internal control systems. Created by the Committee of Sponsoring Organizations of the Treadway Commission, it emphasizes five components: governance and culture, strategy and objective-setting, performance, review and revision, and information, communication, and reporting. By following these components, organizations can ensure they operate effectively, comply with laws, and achieve their goals, ultimately fostering a culture of integrity and accountability. It's widely used in business and government to enhance decision-making and safeguard resources.