Cyber Security Blog

An internal control system does not operate in one department or support only one type of objective. Controls can apply to financial reporting, operations, and compliance across different levels of an organization.   The COSO cube illustrates this relationship. It brings together three dimensions of internal controls: objectives, components, and organizational structure. The model shows how the five components of internal control apply across different objectives and...

An effective internal control system needs more than individual policies or control activities. Organizations also need the right oversight, risk assessment, information, communication, and monitoring processes to make those controls work.   The COSO internal control framework organizes these requirements into five components and 17 principles. The 2013 framework uses these principles to make the requirements for effective internal control more explicit and to provide a structure...

Organizations may use both the COSO internal control framework and the COSO ERM framework, but they serve different purposes. Internal control focuses on establishing and evaluating controls that support organizational objectives. ERM connects risk with strategy and performance.   Understanding the difference between COSO internal control vs COSO ERM helps you decide where each framework fits and when it makes sense to use both.   COSO internal control vs....