According to COSO, the updates are designed to help organizations design and implement internal control in light of changes in the business landscape since the framework’s original release in 1992 and last updated in 2009.
Also released were two illustrative documents to help organizations assess internal control according to the new framework:
Tools for Assessing Effectiveness of a System of Internal Control
Internal Control over External Financial Reporting (ICEFR): A Compendium of Approaches and Examples
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