COSO has produced a new “thought paper” on risk management, offering ideas on how companies can raise their game with respect their particular approach to enterprise risk management.
With the help of Deloitte & Touche to author the paper, COSO provides some ideas for corporate leadership on risk assessment approaches and practices that it says have emerged as the most helpful for key decision makers. Titled Risk Assessment in Practice, the paper focuses specifically on the risk assessment process to help companies better determine how big or small their risks are and to help management focus attention on the most important risks and opportunities. The paper applies the principles of the Enterprise Risk Management — Integrated Framework that COSO published in 2004.
