Enterprise Risk Management is the title of this chapter. In words that a five year old...

Enterprise Risk Management is the title of this chapter. In words that a five year old could understand, tell the class what this means to financial managers working for a public corporation?

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Enterprise risk management:

Is the risk management that involves managing all the types of risks affecting the ability of the organisation to meet it's goals. The ERM includes managing all the types of risks irrespective of which type of risk being considered.

So, ERM helps in identifying the risks and prepares the organisations for those risks that may interfere with the ability of the organisation to achieve it's goals.

The main motive of the finance manger is to achieve the goals of the organisation. So, ERM helps them in accomplishing the organisational goals while minimizing the impact of risks. ERM and its success determine the financial health and life of the enterprise.

jeff jeffy answered 2 years ago

List and describe five key concepts that differentiate Enterprise Risk Management (ERM) from Traditional Risk Management...

List and describe five key concepts that differentiate Enterprise Risk Management (ERM) from Traditional Risk Management (TRM).

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

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

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

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Enterprise Risk Management is the title of this chapter. In words that a five year old...

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