Commitee of Sponsoring Organisations of Tradeway Commision (COSO) Internal Control Framework COSO arguably one of the most widely recognised and applied risk management frameworks in the world. COSO Fraud Risk Management Guide: 2nd Edition. https://www.acfe.com/-/media/files/acfe/pdfs/fraud-risk-tools/coso-fraud-risk-management-guide-second-edition-executive-summary.pdf COSO revised its Internal Control — Integrated Framework in 2013 to incorporate 17 principles. These 17 principles are associated with the five internal control components COSO established in 1992. The principles provide clarity for the user in designing and implementing systems of internal control and for understanding requirements for effective internal control. COSO clarifies that for a system of internal control to be effective, each of the 17 principles is present, functioning, and operating in an integrated manner. Throughout this Guide the COSO 2013 IC Framework has been used as a source for describing aspects of internal control.