Question

What are the mission, vision, and core values in new committee of sponsoring organizations (COSO) and enterprise Risk Management (ERM)?

Answer 1

Meaning Of Mission:

The Mission is Very Important In Every Organisation Or Business , The Organisation Has Set One Mission That Mission Is Follows all The Employees Who Are Working In That organisation . It Is Very Important . The Mission Is Helps To People Working Cordinately To achieve Something.Especially Go To Another Country.

Meaning Of Vision :

The Organisation Set The Values For Future . It Is Very Important To A Person Or An Organisation. It Helps To People Achieve Their Goals .

Meaning Of Risk Management In ERM:

Risk Means Uncertained Future Activity . In Every Business Risk Is Involved In Some Percent . We Have Take Right Decision In Right Time The Risk Will Be less . Thats Helps To Improve Business.

The Coso "Enterprise Risk Management - Integrated Frame Work"

Enterprises Risk Management It Is process Of Board Of Directors , Its a Planned Based Business Strategy Aims To Identify to protect the Dangers and hazards.Applied this Strategy Setting and across the enterprise Designed to Identify Potential Events that May Effect the Entity and manage This Risk to be Within this Risk apptite.

The COSO ERM Frame Work Has Eight Components

• Internal Environment:

The Internal Environment Means With In The organisation. It Provides Discipline and Structure

What They have Provide the Management.

• Objective Setting:

Every Organisation set The Objectives . Without the Objective the Organisation Cant Run Properly.The People are Follow that Objectives Who are Working In that Organisation. Must

be aligned With the organisation risk appetite.

• Events Identification:

Identify Potential events Avoid Positive and negative Risk.Its Very important.

• Assessment:

allows an Entity to Consider the Extent.

• Control Activities:_{​​​​​​​}

​​​​​​​ The Organisation Set the Rules and Regulations ,Policies and procedures . The People

   who are working in that Organisation to follow That Instructions in Proper Manner.

• Information And Communication

​​​​​​​ The Information is Gathering Correctly and Communicate that Information Other Persons.

• Monitoring:

​​​​​​​ Evaluating that Information to correctly and work it Proper manner.

• Risk Response:

​​​​​​​ The Company Will React to Risk Its Depends on Organisation to Organisation.