COSO is important for auditors because it provides a sound basis for establishing internal control systems and determining their effectiveness. Auditors, we need your thoughts and input on internal controls. The new document is designed to adapt the framework to increasing complexity and pace of change; to mitigate risks to the achievement of objectives; and to provide reliable information to support sound decision-making. New principles are broadly written because they are intended to apply to all organizations, regardless of whether they are for-profit companies, not-for-profits, government bodies or other.”]
Source: https://www.careersinfosecurity.com/blogs/whats-up-coso-p-1208