COSO commissioned the ERM Initiative at North Carolina State University to survey senior management executives about the current state of enterprise-wide risk oversight. This report summarizes key findings from the analysis of responses from 460 senior executives about key elements of how they oversee their organization’s most significant risks. Findings suggest that there is room for improvement in enterprise risk management processes across most organizations, with almost 60 percent of respondents admitting that their risk management processes are ad hoc and informal and almost half (42.4 percent) describing their organization’s level of functioning of ERM processes as “very immature” or “somewhat mature”. The report also noted that most organizations turn to COSO’s 2004 Enterprise Risk Management – Integrated Framework as a guide to help them strengthen their risk oversight processes.
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