Internal Control Integrated Framework (COSO)

The Internal Control Integrated Framework by COSO is a comprehensive guideline that helps organizations ensure reliable operations, accurate financial reporting, and compliance with laws. It outlines five key components: control environment (tone at the top), risk assessment, control activities, information and communication, and monitoring. Together, these elements create a structured system that detects and prevents errors or fraud, promotes efficiency, and safeguards assets. Essentially, it’s a strategic approach to managing risks and maintaining integrity within an organization’s processes.