The COSO Internal Control – Integrated Framework consists of five components and seventeen principles. The COSO ERM framework links risk with strategy and performance. It is also used in Turkey as a reference in designing and assessing internal control systems.
Related terms
Internal controlProcesses and controls designed by management to provide reasonable assurance regarding the effectiveness of operations, the reliability of financial reporting and compliance with laws and regulations.Enterprise risk management (ERM)The process of identifying, assessing, managing and monitoring, in an integrated way, the risks that could affect an organisation's achievement of its objectives.Compliance auditAn examination of whether an organisation's activities are carried out in accordance with the relevant laws, regulations, contracts or internal rules.Compliance officerThe authorised person responsible for running the compliance programme for the prevention of money laundering and terrorist financing at an obliged entity.Compliance programmeThe full set of policies, procedures, controls, training and monitoring activities an organisation puts in place to ensure compliance with laws and internal policies.Data controllerThe natural or legal person who determines the purposes and means of processing personal data and is responsible for establishing and managing the data filing system.
Last updated: October 22, 2026 · This definition is for general information only.