The purpose of the COSO Enterprise Risk Management framework is A) to improve the organization's risk...

The purpose of the COSO Enterprise Risk Management framework is

A) to improve the organization's risk management process.

B) to improve the organization's financial reporting process.

C) to improve the organization's manufacturing process.

D) to improve the organization's internal audit process

Expert Solution

The Framework defines essential enterprise risk management components, discusses key ERM
Principles and concepts, suggests a common ERM Language and provides clear direction and Guidence for Enterprise Risk Management

Answer is A

ekkarill92 answered 2 years ago

Enterprise Risk Management. The enterprise risk management (ERM) framework was developed by COSO to provide managers...

Enterprise Risk Management. The enterprise risk management (ERM) framework was developed by COSO to provide managers a formalized methodology to evaluate risk in their businesses. Required: Explain how management would use the ERM framework to manage business risk.

Compare and contrast the COBIT and the COSO Enterprise Risk Management Frameworks.

According COSO, which of the following components of Enterprise Risk Management defines an entity’s Risk Appetite?...

According COSO, which of the following components of Enterprise Risk Management defines an entity’s Risk Appetite? A. Governance & Culture B. Performance C. Strategy&ObjectiveSetting D. Information, Communication & Reporting

Compare and contrast the COBIT and the COSO Enterprise Risk Management Frameworks. (more details minimum provide...

Compare and contrast the COBIT and the COSO Enterprise Risk Management Frameworks. (more details minimum provide 7 differences/similarities).

Explain COSO internal control-integrated framework? Give example of Saudi organizations that uses COSO framework? (write with...

Explain COSO internal control-integrated framework? Give example of Saudi organizations that uses COSO framework? (write with max 200 words with evidence in your own words) Accounting Information System

What distinguishes enterprise risk management from more traditional approaches to risk management?

How does the leadership role of the accountant affect an organization's risk management?

Explain the following COSO framework components: a. internal environment

Explain the following COSO framework components: a. internal environment b. objective setting c. event identification d. risk assessment e. risk response f. control activities g. information and communication h. monitoring

Describe five crucial components of the COSO Framework: Internal Environment (Control Environment), Risk Assessment, Control Activities,...

Describe five crucial components of the COSO Framework: Internal Environment (Control Environment), Risk Assessment, Control Activities, Information and Communication, and Monitoring. Explain what is included in the component and how that component impacts the rest of the internal control system (i.e., the other four components). Please help me to answer this question.

1.) What is the importance of risk management to the business enterprise?

Introduction to Business Law:1.) What is the importance of risk management to the business enterprise?2.) How does insurance aid the enterprise in managing risks?3.) Describe the value of having a will or a trust.

Question