As important as an internal control system is to an organization, an effective system will not guarantee an organizations success. Effective internal controls can keep the right people, such as management and the governing board members, informed about the organizations operations and progress toward goals and objectives. However, these controls cannot protect against economic downturns or make an understaffed entity operate at full capacity. Internal controls can only provide reasonable, but not absolute, assurance the entitys objectives can be met. Due to limitations inherent to all internal controls systems, breakdowns in the internal control system may be caused by a simple error or mistake, or by faulty judgments made at any level of management

What was the nature of the project to update the Internal Control-Integrated Framework and fundamentally what has changed?