CONCEPTUAL APPROACHES TO ASSESSING THE EFFECTIVENESS OF INTERNAL CONTROL SYSTEMS IN COMMERCIAL BANKS OF UZBEKISTAN
Keywords:
internal control system, COSO, control risk, Uzbekistan banks, audit risk, digital controls, corporate governance.Abstract
This study develops an integrated conceptual model for assessing the effectiveness of internal control systems (ICS) in commercial banks of Uzbekistan under conditions of digital transformation and growing regulatory pressure. Based on COSO ERM (2017), ISA 315/330, OECD corporate governance principles and empirical data from 12 commercial banks of Uzbekistan (2019–2024), a multi-dimensional assessment framework is proposed. The findings show that digital maturity of ICS reduces control risk by an average of 32.8% and improves financial reporting reliability by 41.2%. The results provide a scientific basis for regulatory reforms and risk-based supervision of banks.
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