COSO Releases Additional Papers On ERM

Earlier this week, the Committee of Sponsoring Organizations of the Treadway Commission (COSO), a private-sector organization sponsored by five professional associations (the AAA, AICPA, FEI, IIA and IMA), dedicated to supporting guidance and thought papers on fraud prevention and detection, internal control and risk management, published two additional thought papers on Enterprise Risk Management:

Embracing Enterprise Risk Management - Practical Approaches for Getting Started, and

Developing Key Risk Indicators To Strengthen Enterprise Risk Management.

Highlights can be found in COSO's Jan. 11, 2011 press release.

The papers released this week follow the release in December, 2010 of two other thought papers relating to ERM:

Board Risk Oversight - A Progress Report, and

Current State of Enterprise Risk Oversight and Market Perceptions of COSO's ERM Framework

Highlights of the December survey-based reports can be found in this COSO press release.

Jan. 31 Deadline for Response to COSO Internal Control Survey

As a reminder, Jan. 31 is the deadline for responses to COSO's online survey on its internal control framework. Survey responses will be used by COSO to help inform their current project to update COSO's landmark 1992 Internal Control - Integrated Framework.

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