Originally developed in 2004, the COSO ERM – Integrated Framework is one of the most widely recognized and applied risk management frameworks in the world. One of the most significant enhancements in the proposed update is the introduction of components and supporting principles that reflect the evolution of risk management thinking and practices.
"This is truly a leading-edge piece of thought leadership on ERM, and it will help all organizations improve the way they develop and set strategy, make decisions, manage risk, and enhance their performance overall," said
The exposure draft introduces five components and 23 principles of effective ERM to which any organization can compare themselves and develop a plan to improve their ERM practices.
Written comments on the exposure draft will become part of the public record and will be available on the COSO website through
Originally formed in 1985, COSO is a voluntary private sector organization dedicated to improving organizational performance and governance through effective internal control, enterprise risk management and fraud deterrence. COSO is jointly sponsored by the
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