Which best describes a control framework like COSO?

A control framework like COSO is best described as a collection of principles because it provides a structured approach for organizations to develop, implement, and maintain effective internal controls. COSO, which stands for the Committee of Sponsoring Organizations of the Treadway Commission, outlines essential components and underlying principles that guide organizations in managing risk and ensuring reliable financial reporting and compliance with laws and regulations.

These principles encompass governance, risk management, and operational effectiveness, serving as a guideline for establishing robust internal control systems. By adopting these foundational principles, organizations can enhance their ability to achieve strategic objectives, minimize risks, and improve overall performance.

The other options do not accurately capture the essence of the COSO framework. While compliance requirements, training documents, and audit tools may relate to the broader context of internal controls, they do not specifically define what COSO represents. COSO is fundamentally built around principles that provide the basis for understanding and implementing effective controls within an organization.