What is ICOOR? Q&A › Category: Financial › What is ICOOR? 0 Vote Up Vote Down Sura asked 9 months ago Question Tags: audit, ICOOR, non sox 1 Answers 0 Vote Up Vote Down FinMargin Expert answered 9 months ago ICOOR means Internal Control Over Other Risks. It is more like non SOX audit. These controls are necessary but not of very high risk as ICOFR. These are in the medium or low-risk category. These are part of internal and external audits.