Walmart’s COSO Internal Control Framework

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Walmart’s COSO Internal Control Framework
Walmart is among the largest corporations in the United States (US) and globally. Sam Walton started this company in 1962 in Arkansas. His primary objective was to help individuals and communities to save money so that they could lead better lives, which has remained to be the primary goal of Walmart. This paper emphasizes establishing the Committee of Sponsoring Organizations (COSO) internal control framework for Walmart. Indeed, the COSO framework establishes internal controls and how they are integrated into business processes. These controls are crucial in ensuring that a company is operating transparently, and ethically and that it complies with the set industry standards.
The first primary element of the COSO framework is the control environment. In particular, it seeks to ensure that all business processes comply with the established standard practices (Committee of Sponsoring Organizations of the Treadway Commission 34). Walmart is committed to integrity and ethical values. The firm acts consistently to ensure that its values and integrity culture guide all its decisions. Walmart has grown to become a large global company since it does business in the right way. Notably, it is committed to showing how its integrity culture works daily, hence creating trusting relationships with its stakeholders, including employees and customers. Walmart has an independent board of directors who are highly skilled and come from diverse backgrounds. For example, through oversight from the board of directors, the management establishes appropriate responsibilities and authorities to help Walmart pursue its objectives. Walmart