COSOModell

COSOModell refers to the COSO (Committee of Sponsoring Organizations of the Treadway Commission) internal control framework, often called the COSO Model, widely used for designing, implementing and evaluating internal control and enterprise risk management. First published in 1992 and updated in 2013, the framework provides guidance to help organizations achieve reliable financial reporting, operational effectiveness and compliance with laws and regulations.

The model is commonly represented as a three-dimensional "COSO cube" that links three categories: objectives (operations, reporting, compliance), components of internal control, and organizational levels. The five core components are Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring Activities. The 2013 update elaborated 17 underlying principles that support these components and emphasized the role of technology, globalization and evolving business models.

COSOModell is used by auditors, management and regulators to assess internal control effectiveness, design controls, and support corporate governance. Related publications include COSO’s Enterprise Risk Management guidance, which integrates risk management with strategy and performance.

Criticism of the model centers on perceived complexity and implementation cost for smaller organizations, and on its generality, which may require significant tailoring. Practitioners commonly adapt COSO principles to organizational size, industry and regulatory requirements to balance rigor with practicality.