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Running head: COSO FRAMEWORK OF INTERNAL CONTROL
COSO Framework of Internal Controls
COSO FRAMEWORK OF INTERNAL CONTROL
Committee of sponsoring organizations COSO, led by the Treadway commissions, was officially
developed in 1992, to perform accessible evaluations to control the activities within a company
or business environment. The Model has been accepted worldwide by most companies as a
useful measure of internal controls. In a nutshell, the COSO model framework describes inner
power as a particular process effected by the board of directors and entire management that aims
at the provision of reasonable assurances to achieve specific set objectives. The Model further
provides three significant categories of COSO objectives as; (i) effectiveness and efficiency of
the operations, (ii) reliability of the financial reports, and (iii) regulatory compliance with the
existing applicable laws. Companies that have well-set strategies, measures, and plans for
implementing or integrating the COSO model as a tool in managing their internal control often
depict an excellent performance in almost all of their operational aspects. Facebook, for instanc...
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