ABSTRACT
In 1992, the Committee of Sponsoring Organizations (COSO) released its Initial Internal Control-Integrated Framework. COSO is a joint initiative of five private-sector organizations:
• American Accounting Association (AAA) • American Institute of Certified Public Accountants (AICPA) • Financial Executives International (FEI) • Association of Accountants and Financial Professionals in
Business (IMA) • Institute of Internal Auditors (IIA) COSO provides thought leadership through the development of
frameworks and guidance on enterprise risk management, internal control, and fraud deterrence. COSO was formed in 1985 to sponsor the National Commission on Fraudulent Financial Reporting (Treadway Commission). The Treadway Commission recommended organizations sponsoring the Commission work together to develop integrated guidance on internal control.
