COSO's Guidance on Monitoring Internal Control Systems elaborates on the monitoring component of internal control discussed in the 1992 COSO Framework and in the subsequent Internal Control over Financial Reporting - Guidance for Smaller Public Companies issued in 2006.
According to COSO "the objectives of COSO's Monitoring Guidance" are twofold: (1) To help organizations improve the effectiveness and efficiency of their internal control systems. . . . [and] (2) To provide practical guidance that illustrates how monitoring can be incorporated into an organization's internal control processes.