Governance

The mission of the Committee of Sponsoring Organizations (COSO) reads, in part, “to improve organizational performance and governance.” Since their inception, COSO’s Enterprise Risk Management — Integrated Framework and Internal Control — Integrated Framework were both intended to provide guidance for management on how to implement and evaluate effective enterprise risk management (ERM) and internal control processes, leading to the improvement of management and governance processes.
 
When applied effectively, the frameworks’ concepts contribute to enhanced governance practices. In 2024, COSO announced efforts to development of its third framework, focus specifically on Corporate Governance, as noted in the Press Release.