COSO Enterprise Risk Management Framework

The COSO Enterprise Risk Management Framework is a structured approach that organizations use to identify, assess, and manage risks that could impact their goals. It helps businesses understand potential challenges and opportunities by creating a culture of risk awareness and aligning risk management with strategy. The framework comprises key components such as leadership involvement, risk assessment, control activities, information sharing, and ongoing monitoring. Essentially, it guides organizations in making informed decisions based on a comprehensive understanding of risks, ensuring resilience and long-term success in a constantly changing environment.