Updated COSO Internal Control Framework: Frequently Asked Questions

The Bulletin: Volume 5, Issue 3

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has released its updated Internal Control – Integrated Framework (New Framework). The original version, released in 1992, has gained broad acceptance and continues to be recognized as a leading resource to provide guidance on the design and evaluation of internal control.

The New Framework issued by COSO is an important development, as it enables organizations to develop systems of internal control effectively and efficiently. It In this issue, we address various questions regarding the New Framework.