d6f59bcc_Risk_Oversight___Resources__Description
[Source] U.S. COSO Enterprise Risk Management (ERM) Guidance [Link] Visit Site [Description] 
COSO, the committee that was responsible for the 1992 COSO Integrated Framework, which formed the foundation for this framework, issued guidance on ERM in 2004. The guidance was authored by specialists from a Big 4 public accounting firm, with input from the committee members of the five accounting-centric organizations that comprise COSO. As ERM guidance, it has been criticised by risk specialists for: its length; the absence of a process to update and improve it; the distortion created by its foundation on the out-dated 1992 control framework; its lack of appeal to senior executives; and other technical deficiencies. In spite of its deficiencies, it is heavily promoted and referenced by the IIA, AICPA, IMA and academics, and is listed as a “must read/have” for any risk practitioner.
Risk Oversight | Resources
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