In the last two decades, Iraq in general has faced many problems, the most prominent of which are financial problems, whose effects include many industrial, service and banking sectors. Banking services have had the greatest weight of these problems, with the many risks they carry that greatly threaten most of the banks operating in Iraq, and because government banks usually receive support and backing from the government, but private banks remain the weakest link in the face of these risks. Therefore, this research aims to find out the consistency of the concepts and procedures followed by Iraqi private banks with the principles of the COSO-2017 framework. To achieve this goal, the researchers designed a questionnaire to find out the opinions of the groups closest to these principles, and through which it was found that there are many shortcomings in the internal control systems used in Iraqi private banks. The researchers recommended the necessity of adopting quick procedures and decisions that help in improving and developing the internal control systems in private banks in order to face the many risks that could cause the collapse of these banks.