Tag: COSO

COSO Releases Thought Leadership on Risk Appetite

Organizations encounter risk every day as they pursue their objectives. In conducting appropriate oversight, management and the board must deal with a fundamental question: How much risk is acceptable in pursuing these objectives? Added to this, regulators and other oversight bodies are calling for better descriptions of organizations’ risk management processes, including oversight by the board.

COSO has released a thought leadership piece to help understand and communicate risk appetite, an amorphous concept to many.

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Fraud Risk Assessment – A Recipe for Greater Success!

In addition to establishing an ethical environment, board members and management must also take the lead in implementing and maintaining a formal fraud risk management program. One key element of such a program is a fraud risk assessment.

Risk assessments are part of the discipline of risk management, where enhanced frameworks and techniques have emerged. Risk management comprises the identification, assessment, and prioritization of risks followed by the coordinated and efficient use of resources to monitor, minimize, and otherwise control the impact of the risks on the organization.

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