What is COSO?

COSO, which stands for the Committee of Sponsoring Organizations of the Treadway Commission, provides frameworks and guidance on enterprise risk management (ERM), internal control, and fraud deterrence. The COSO framework is widely used by organizations to design, implement, and evaluate the effectiveness of their internal control systems. Specifically, the 'Internal Control - Integrated Framework' assists organizations in developing comprehensive and cost-effective internal controls to mitigate risks and achieve their objectives related to operations, reporting, and compliance. The ERM framework helps organizations identify, assess, and manage risks across the enterprise.