The Importance of the COSO oversight framework in improving the internal control structure

Abstract

This study aimed to identify the importance of the COSO Oversight framework in improving the internal control structure and in order to achieve the objectives of this study and to reach the results and recommendations of the research. The researcher designed an electronic questionnaire that included the three axes and paragraphs of the study. The questionnaire was answered by (62) questionnaires specialized in the profession of accounting, auditing, economics and statistics, which are closely related to the science of accounting and auditing. After obtaining the answers to the three axes of the study, the researcher analyzed the answers based on the SPSS statistical analysis program. One of the most important results of the study was the weakness of most of the internal control systems in public sector companies in Iraq, which indicates the great importance of the COSO Oversight framework in improving the internal control structure. One of the most important recommendations recommended by the researcher is directing the attention of the professional bodies and organizations in Iraq that are responsible for the process of regulating the accounting and auditing profession towards applying the latest versions of the global internal control frameworks, because these frameworks are of great importance in improving internal control structures and keeping pace with the latest control versions and their importance in applying them in the environment of Iraqi companies.