COSO’s goal is to provide thought leadership dealing with three interrelated subjects: Enterprise Risk Management (ERM), Internal Control, Fraud Deterrence and Governance.

 

Regarding Internal Control, in 1992, COSO published Internal Control — Integrated Framework. This framework was revised and reissued in May 2013. Over the years, COSO continued to issue other publications pertaining to internal controls, including thought leadership such as Internal Control over Financial Reporting — Guidance for Smaller Public Companies Guidance on Monitoring Internal Control Systems or most recently Internal Controls over Sustainability Reporting. For more information visit the Internal Control Guidance page.

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Regarding ERM, in 2004, COSO issued Enterprise Risk Management — Integrated Framework. This framework was updated with the release in 2017 of “Enterprise Risk Management–Integrating with Strategy and Performance,” which highlights the importance of considering risk in both the strategy-setting process and in driving performance. COSO has also published several thought papers beginning in 2009 relating to ERM, for more information visit the ERM Guidance page.

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​​In the area of Fraud Deterrence, COSO has published two research studies. The first study released in 1999 was titled Fraudulent Financial Reporting: 1987-1997. A continuation study called Fraudulent Financial Reporting: 1998-2007 was released in 2010. In the recent years, COSO issued its first Fraud Risk Management Guide in 2016, which was later updated to include more focus areas and republished in 2023. For more on fraud deterrence visit the Fraud Deterrence page.

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COSO’s most recent focus is on the development of a Corporate Governance Framework. Please review our News page for more information and our Other Guidance page for more thought leadership on Governance.