Derya Genç, M.Sc.
Department of Financial Mathematics
February 2023

Supervisor: Ömür Uğur (Institute of Applied Mathematics, Middle East Technical University, Ankara)


Control are the measures taken by the management and other relevant units manage risks and increase the likelihood of achieving the determined goals and objectives. These control processes are generally determined by certain frameworks and one of the most valid frameworks is COSO. Along with the pandemic, the risks that banks may face have partially changed. Therefore, control processes should change against these risks. In this study, it has been shown which COSO component these risks belong to and that there should be a dynamic control process with changing risks.

Keywords: Control, COSO Internal Control-Integrated Framework, COVID-19, Banking Sector

Orta Doğu Teknik Üniversitesi, Uygulamalı Matematik Enstitüsü, Üniversiteler Mahallesi, Dumlupınar Bulvarı No:1, 06800 Çankaya/Ankara