The Committee of Sponsoring Organizations of the Treadway Commission (COSO) issued a framework for internal control in 1992, with an update in 2013. COSO also provides other guides relating to “internal control, risk management, governance, and fraud deterrence”.  The COSO framework is useful for effective ICFR (internal control over financial reporting), including cash controls, accounts payable internal controls, and AP financial controls.  The COSO Internal Control-Integrated Framework includes: 1. Control environment  2. Risk assessment 3. Control activities 4. Information & communication  5. Monitoring activities The five sponsoring member firms of COSO are American Accounting Association, American Institute of Certified Public Accountants (AICPA), Financial Executives International (FEI), The Association of Accountants and Financial Professionals in Business (IMA), and the Institute of Internal Auditors (IIA).