COSO - Integrated Internal Control Framework

In this lecture, we will use a framework to describe a system of internal controls of a company. The COSO Framework of Internal COntrol defines the entity controls as those that are implemented for multiple transaction cycles or for the entire organization.

COSO stands for The Committee of Sponsoring Organizations of the Treadway Commission. It is a joint initiative of private sector organizations and is dedicated to providing thought leadership through the development of frameworks and guidance on enterprise risk management, internal control and fraud deterrence.