COSO Changes Are Coming. How Will They Impact Your ERM Program?

Twelve years after the Committee of Sponsoring Organizations of the Treadway Commission (COSO) commissioned and published in 2004 Enterprise Risk Management – Integrated Framework, COSO is making some updates. As with other frameworks, over time these publications require enhancements to adequately provide guidance to companies to address emerging risks, enhanced awareness and complexity of environments.

As of June 15, 2016, COSO has unveiled an update to its 2004 Enterprise Risk Management – Integrated Framework and is seeking public comment on the proposal. The updated publication is Enterprise Risk Management – Aligning Risk with Strategy and Performance, which will be released at a later date in 2016 or 2017. Public comments will be accepted June 15 through September 30, 2016.