The Effect COSO Internal Control System in Reducing the Financial Risks related to Financial Statements

Abstract

The research aims to measure the impact of the components of the internal control structure according to the updated COSO framework in reducing or reducing data risks in the financial statements, which contributes to improving the quality of accounting information . The study was conducted on a group of companies registered in the Iraq Stock Exchange, and the questionnaire questions were distributed to the study sample amounting to (120) and (110) forms were retrieved from them, which is equivalent to (92 ). The researcher reached the most important conclusions, the most important of which is that the individuals working in the study sample companies have a good level and awareness of the control environment as an essential aspect of the internal control system. The researcher made recommendations, and it is for the study sample companies to realize the importance and efficacy of the internal control system and its impact on reducing financial risks.