In any business, large or small, the ability to recognize, evaluate, and manage risk is vital for continued growth and for the stability and well-being of the enterprise. In 2004, COSO published a framework called the Enterprise Risk Management – Integrated Framework. This framework provides a way for companies to satisfy their internal control needs and to manage risk to create competitive advantage, optimize the cost of risk, and improve business performance.
The objective of this course is to provide viewers with an overview of the COSO ERM Integrated Framework. By the end of the course, the learner will be able to:
- Describe the origin of the COSO Enterprise Risk Management Integrated Framework
- Identify and describe the four categories of entity objectives for Enterprise Risk Management
- Discuss the eight interrelated components of Enterprise Risk Management
- Identify the benefits of Enterprise Risk Management
- List the limitations of Enterprise Risk Management
- Recommend practical application techniques and implementation ideas
Estimated Course Duration: 3 hours (3.5 CPE)
Delivery Method: Online Self-Study
Field of Study: Auditing
Program Level: Overview
Advance Preparation/Prerequisites: None
Overview of COSO
- Establishment of COSO
- COSO Internal Control Integrated Framework
- Internal Control
- COSO Enterprise Risk Management Integrated Framework
COSO ERM Integrated Framework
- Internal Environment
- Objective Setting
- Event Identification
- Risk Assessment
- Risk Response
- Control Activities
- Information and Communication
ERM Practical Application Ideas
- Limiting factors
- Roles and Responsibilities
Download PDF Course Description
- Why Implement ERM?
- Five steps to implementing ERM
- Managing the ERM journey
In order to earn CPE credit, you must complete the training module within one year of enrollment and score 70% or above on the Final Exam.
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