COSO Releases Examples of Framework Applications

 The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released “COSO Enterprise Risk Management- Integrating with Strategy and Performance” in June of 2017. This compendium is an important supplement to its 2017 Enterprise Risk Management:  Integrating with Strategy and Performance. This compendium to the 2017 framework includes detailed examples for applying principles from the updated ERM framework to day-to-day practices. The compendium of examples recognizes the connection between ERM and strategic setting and organizational performance and includes examples across a wide range of industries. Each illustration in the compendium was developed from industry practices identified through extensive research, including interviews and case studies.

 The compendium, which was authored by PwC under the direction of the COSO Board, includes illustrations to help ERM leaders apply the principles in the 2017 framework to their organization. These examples:

• Provide industry context, both internal and external environments
• Include background information on the specific entity
• Describe key principles and the related examples in details to show how organizations can apply the principles in their operations
• Emphasize the integration of ERM and strategy.

Original Article Source: “COSO Enterprise Risk Management- Integrating with Strategy and Performance: Compendium of Examples”-Coso, June 2017