COSO's Newest ERM Guidance

Susan B. Anders, PhD, CPA/CGMA

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released Enterprise Risk Management—Integrating Strategy with Performance in September 2017 to emphasize the importance of enterprise risk management (ERM) in strategic planning, as well as the necessity of incorporating risk management throughout an organization. Much of COSO's thought leadership on ERM has stemmed from a survey that it conducted in 2010, which found that only 28% of respondents believed their organization's implementation was “systematic, robust, and repeatable” or was regularly reported to their board of directors (http://bit.ly/2tEoWSQ). COSO partnered with PricewaterhouseCoopers for the 2017 updates, and some of the great free resources provided on both COSO's and PricewaterhouseCoopers's websites are presented in this month's column.