COSO Framework And Risk Governance In Indian Private Banks: Towards Sustainable Banking Practices
Year: 2025
Type: article
Study design: Observational Study
Abstract: This paper aims to evaluate the effectiveness of risk management of Indian private banks using COSO’s IC framework components (Control Environment, Risk Assessment, Information & Communication, Control Activities, and Monitoring). The study employed a survey research design and used 490 questionnaires out of 600 distributed to the bank’s managers, internal control managers and internal auditors representing an 81.6 % response rate. The gathered data were examined using R software through EFA and CFA techniques to identify thematic structures, validate constructs, and execute a SEM model. The results of the study gained ascertained that significant and strong control existed in the control environment, control activities, and information & communication activities of internal control of Indian private banks. Monitoring component and Risk assessment activities had a low average mean because private banks operate under higher risk than the public banks. It is propose that Indian private banks should increase investment in risk assessment and monitoring components.
DOI: 10.64252/40swtx76
Author: Preeti Dua
Institution: GNA University
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4414827529
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