COSO ERM Framework: A Non-Technical Note

Abstract

This is a non-technical note on the Enterprise Risk Management (ERM) Framework issued by Committee for Sponsoring Organisations of the Treadway Commission (COSO). The Framework has been accepted widely across the globe. The objective of this note is to provide an overview of the Framework. COSO Framework2 identifies the following key elements: Internal environment; Objective setting; Event identification; Risk assessment; Risk response; Control activities; Information and communication; and monitoring.