COSO internal control

Design and examine risks and controls together to support organizational operations, reporting and compliance objectives.

Framework · Accounting and finance

Core concepts

• Control environment and risk assessment: connect responsibility, objectives and risk
• Control activities: responses such as approvals and reviews
• Information, communication and monitoring: observe operation and remedy gaps

Application

Identify missing closing or tax information, concentrated authority and review responsibilities, then check whether controls actually operate.

Limitations and jurisdiction

Documented procedures differ from actual operation. Controls do not eliminate all errors or fraud and must fit the organization’s size.

Editorial perspectives

• Prevention: emphasize procedures that stop errors before they occur.
• Detection: emphasize prompt discovery and correction of problems.

Sources

COSO · 2013 framework and official organizational guidance

Context: International reference framework; local obligations require separate checks

Source checked: 2026-10-07

Independent editorial summary and source link; the original text is not republished.

Related personas

Translation status

Editorial English translation of the Korean edition. No professional translation or occupational expert review has been completed. Translation does not change the source jurisdiction.

Translation prepared: 2026-10-08 · Source fingerprint: kb-5b4e254aced2ff30

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