The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines internal control as:

A process implemented to review how well the organization’s risk management capabilities have increased value over time and how they will continue to drive value for the organization

A process, effected by an entity’s board of directors, management, and other personnel,designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance

A process involving personnel at all levels of the organization that aims to eliminate all uncertainty and risk while also ensuring the achievement of organizational goals

A process aimed at proactively identifying, evaluating, and addressing an organization ' s vulnerabilities to fraud by both internal and external sources