COSO

All organizations need to set strategy and periodically adjust it, with a consistent awareness of the ever-changing opportunities for creating value as well as the challenges that will arise in pursuit of this value. To do this, they need the best possible framework for optimizing strategy and performance. That’s where enterprise risk management comes into play. Organizations that integrate enterprise risk management across the business can achieve many benefits.

Committee of Sponsoring Organizations (COSO) is a voluntary private-sector organization. COSO is dedicated to guiding executive management and governance entities toward the establishment of more effective, efficient, and ethical business operations on a global basis. It sponsors and disseminates frameworks based on in-depth research, analysis, and best practices. Its most important framework, entitled Enterprise Risk Management — Integrating with Strategy and Performance, highlights the importance of considering risk in both the strategy-setting process and in driving performance.