Article
Enterprise Risk Management — Integrated Framework by COSO
Enterprise Risk Management — Integrated Framework, a document prepared by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), addresses risk management and internal control issues. Competent risk management enables efficient financial reporting and regulatory compliance while preventing reputational risks and related consequences.
By defining risk management and describing its principles, the document provides managers across the organisation with a single platform for assessing and improving the existing risk management system. In particular, it identifies eight interlinked components defining the risk management structure for a company and discusses conditions for more efficient risk management as well as internal control constraints. The document provides examples of risk management and internal control methods that could be useful when applying the integrated framework components in practice.
Please find the document attached.
Challenges and Leading Practices
Related to Implementing COSO’s
Internal Control — Integrated
Framework