If you are unfamiliar with the COSO Integrated Framework, please login to COSO u

If you are unfamiliar with the COSO Integrated Framework, please login to COSO using the login credentials located in Content>Learning Resources>FASB/GASB/COSO. Note: the login credentials change annually. Review the COSO Integrated Framework to become familiar with its purpose and structure, which is easiest to understand in its graphic format.
First, read: Balakrishnan, R., Matsumura, E. M., & Ramamoorti, S. (2019). Finding Common Ground: COSO’s Control Frameworks and the Levers of Control. Journal of Management Accounting Research, 31(1), 63–83.
Then read: Hagel, J. (2021). Risk Advisory Group COSO Plans More Detailed Recommendations in 2021. The group is zeroing in on emerging risks, offering advice that is more prescriptive than the guidelines in its broad frameworks. The Wall Street Journal Online edition, Jan. 6, 2021.
Consider changes made to the COSO Framework in answering the following questions:
1) In today’s complex, technology-driven economy, to what extent is the COSO Internal Control Framework relevant for evaluating a firm’s internal control system? Why?
2) What changes are planned to maintain COSO’s relevance? Be specific.