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COSO offers up new ERM framework for review

Tammy Whitehouse | June 14, 2016

Looking to raise the bar on risk discussion and better integrate it to business strategy, the Committee of Sponsoring Organizations of the Treadway Commission, or COSO, has unveiled a proposed redraft of its 2004 ERM framework.

COSO even wants to rename the framework -- Enterprise Risk Management -- Aligning Risk with Strategy and Performance -- to emphasize a new approach to managing new and existing risks in a way that better integrates the dialogue about risk into business planning. 

“We wanted to create a more robust focus on risk in the strategic planning process,” says Dennis Chesley, a PwC partner and lead partner for the ERM framework revision effort. That includes...

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