What are the components of the COSO ERM framework?
The COSO Enterprise Risk Management (ERM) framework applies a risk-based approach as opposed to a control-based approach. The overall objective of the ERM framework is to attain reasonable assurance that the company objectives and goals are achieved, and that the company meets performance expectations.
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What are the key components of the COSO internal control framework?
Just remember it would be a CRIME to forget the 5 components. The 5 components of the COSO internal control framework include control environment, risk assessment, information & communication, monitoring, and existing control activities.