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COSO Enterprise Risk Management – Integrated Framework

By 12 January 2022No Comments1 min read

Muhammet Fatih ÇOŞKUN

Abstract

 Enterprises should reduce the risks that may arise in reaching the targets to a reasonable level so that they can carry out their activities in line with the targets they have determined. Risk is the uncertainty of future events that may affect the enterprises. Enterprise risk management, on the other hand, is the set of strategies, policies, and procedures applied throughout the organization in order to minimize the risks that may arise in achieving its objectives. According to COSO, enterprise risk management is the culture, capabilities, and practices integrated into the formulation and execution of strategy that the organization can rely on to manage risk in creating, protecting, and realizing value. In this study, the COSO Enterprise Risk Management Integrated Framework, which was formed by the COSO (the Committee of Sponsoring Organizations of the Treadway Commission) in 2004, updated and finalized in 2017, was discussed.