The COSO framework of internal controls is practiced within companies around the world. The objectives of the COSO framework are closely related to its five components. Discuss these five components of the COSO framework. Be sure to include each components’ impact on each of the COSO framework objectives. What do you feel an auditor would most be concerned with during an IT audit? Lastly, discuss suggestions for integrating COSO framework compliance into a company in which you are familiar.

Your paper should meet the following requirements:

• five pages in length, not including the required cover page and reference page.

• Your paper should include an abstract, introduction, a body with fully developed content, and a conclusion.

• Minimum 3 scholarly/ peer- reviewed journal articles to support your positions, claims, and observations,

• Be clearly and well-written, concise, and logical, using excellent grammar and style techniques. You are being graded in part on the quality of your writing.

Answer preview

COSO Framework

COSO refers to the Committee of Sponsoring Organization, which is a joint initiative by different private sector organizations to combat corporate fraud. The program aims to offer thought leadership by the development of frameworks and guidance on internal control, risk management, and fraud deterrence. The framework has a profound structure made up of five different components that are designed to drive the realization of desired goals.  These components are edged in primary objectives that informed the design of the…