Explore BrainMass

Internal Auditing and Assurance - COSO ERM

Find three professional organizations or companies that reference COSO ERM on their website. Summarize what they discuss and give the link to the webpage. Critique each organization's ERM discussion and recommend corrections or improvement to their risk management efforts or ideas.

Solution Preview

The First professional organization that references COSO ERM is The Association of Accountants and Financial Professional in Business. The reference is in the form of a write up: "Are You Identifying Your Most Significant Risks?" The organization says that as a part of the lessons learned from the recent economic meltdown, Standard & Poor have included enterprise risk management as a part of their credit evaluation. The article uses results from a COSO sponsored survey and discusses how extensively enterprises will adopt ERM going forward.

The second professional organization that references COSO ERM in its paper is the AICPA or the American Institute for CPAs. The discussion is titled" Effective Enterprise Risk Oversight". The discussion says that according to COSO, effective enterprise risk oversight is the role of the board of directors. The COSO Enterprise Risk Management -Integrated Framework provides the key ...

Solution Summary

The answer to this problem explains the importance of COSO ERM to important professional organization . The references related to the answer are also included. 535 words including references.