A Control Framework is a structured approach used by organizations to manage risks and ensure compliance with laws and regulations. It provides guidelines and best practices for establishing internal controls, which help safeguard assets, improve operational efficiency, and enhance the reliability of financial reporting. Control frameworks, such as the COSO Framework or ISO 31000, outline key components and principles that organizations can adopt. These frameworks help in identifying potential risks, assessing their impact, and implementing measures to mitigate them, ultimately supporting better decision-making and accountability within the organization.