Asked in
The Difference Between

What is the difference between coso and coco model?

Answer

User Avatar
Wiki User
May 09, 2014 5:18AM

COCO focuses on the achievement of objectives and defines internal control as the elements of an organization that taken together support the achievement of these objectives. COCO focuses on the reliability of internal and external reporting. On the other hand COSO defines internal control as the process affected by an entity's Board of Directors, management and personal designed to provide reasonable assurance regarding the achievement of objective. COSO focuses on the reliability of financial reporting.