COSO Enterprise Risk Management Framework
A Widely Recognized ERM Framework
The COSO Enterprise Risk Management Framework provides guidance for integrating risk management with governance, strategy, and performance. It encourages organizations to consider risk when setting objectives and executing strategy.
- Governance and culture.
- Strategy and objective-setting.
- Performance.
- Review and revision.
- Information, communication, and reporting.
Tip
COSO ERM emphasizes that risk management should support strategy rather than simply prevent losses.
Summary
The COSO ERM Framework integrates governance, strategy, performance, and continuous improvement into enterprise-wide risk management.