COSOs
COSO, or the Committee of Sponsoring Organizations of the Treadway Commission, is a U.S.-based private-sector organization established in 1985 by five sponsoring bodies: the American Accounting Association (AAA), the American Institute of Certified Public Accountants (AICPA), Financial Executives International (FEI), the Institute of Internal Auditors (IIA), and the Institute of Management Accountants (IMA). Its mission is to provide thought leadership and guidance on internal control, enterprise risk management, governance, and fraud deterrence, and to develop frameworks used by organizations worldwide to improve performance and accountability.
COSO is best known for its two integrated frameworks. The Internal Control—Integrated Framework (ICIF), first issued
The Enterprise Risk Management (ERM) Framework, originally released in 2004 and updated in 2017, describes eight
COSO’s frameworks are applied globally across industries to enhance governance, risk management, and control activities. The