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.
The main components of ERM include governance and culture, review and revision, information and communication, strategy and objective-setting, and performance:
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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.
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.
