COSO Issues Important Update to ERM Framework

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its highly anticipated ERM Framework: Enterprise Risk Management–Integrating with Strategy and Performance. This new document builds on its predecessor, Enterprise Risk Management–Integrated Framework, one of the most widely recognized and applied risk management frameworks in the world. The updated edition is designed to help organizations create, preserve, and realize value while improving their approach to managing risk.

AFERM President Sallyanne Harper added, “On behalf of AFERM, I welcome the updates COSO has made to its ERM framework. This is an important addition to the ERM landscape and congruent with much of the work being done in the federal space.  Especially noteworthy are the added emphases on the value of ERM when setting and carrying out strategy and the alignment of ERM with organizational performance management, including in the setting of performance targets and in understanding the impact of risk on performance.”

Read More:  COSO News Release