Corporate Governance and COSO Frameworks

This chapter delves into the core structures that dictate an organization’s operations, control, and risk management strategies. We’ll first see an overview of corporate governance, introducing you to its pivotal players: the shareholders, the board of directors, and executive management.

Moving forward, we’ll shed light on the COSO Internal Control Framework and its five integral components, which are crucial for maintaining robust internal control systems.

Then, we’ll shift to Enterprise Risk Management, highlighting the vital role of risk assessment within today’s complex and global business landscape.

Then we’ll address the Sarbanes-Oxley Act of 2002 before going through the key steps of the revenue cycle and expenditure cycle.