Certified Government Auditing Professional (CGAP) Practice Exam 2026 – The All-in-One Guide to Exam Success

The COSO framework, officially known as the Committee of Sponsoring Organizations of the Treadway Commission framework, provides a comprehensive model for designing, implementing, and evaluating internal controls. The interrelated components identified in the COSO framework include the control environment, risk assessment, control activities, information and communication, and monitoring.

The control environment sets the tone at the top of an organization and influences the control consciousness of its people. Risk assessment involves identifying and analyzing relevant risks to the achievement of objectives, which is crucial for effective risk management. Control activities refer to the policies and procedures that help ensure management directives are carried out. Information and communication across the organization ensure that necessary information flows freely and effectively to achieve objectives. Finally, monitoring involves ongoing evaluations and separate evaluations to ensure that internal controls are operating as intended and to make improvements when necessary.

This holistic approach ensures that organizations can effectively manage risks and achieve their objectives, making it a foundational framework in the field of internal control and risk management. Other options provided do not fully represent the comprehensive nature of the COSO framework.