COSO unveiled 14.6.2016 an update to its Enterprise Risk Management – Integrated Framework and is seeking public comment of the proposal, beginning tomorrow, June 15.
COSO has expanded its website, www.COSO.org, with a section on the Framework update that includes the proposed Framework, survey and comment tools, and FAQs about the project, details of the most significant updates and how to respond to the survey.
The site also includes a video that features four members of the Advisory Council addressing the ERM update process and the importance of obtaining input from a variety of risk professionals about the proposed changes. Public comment will be accepted June 15 through Sept. 30, 2016.
Written comments on the exposure draft will become part of the public record and will be available on the COSO website through Dec. 31, 2016., is designed to address the needs of all organizations to improve their approach to managing new and existing risks as a way to help create, preserve, sustain and realize value.