Sponsoring Organizations:

COSO Enterprise Risk Management — Integrated Framework Update

​​Comment Period for COSO ERM​​ Framework Update Closed

​COSO has concluded its call for public comment to the proposed update to its ERM Framework: Enterprise Risk Manage​​​ment​ — Aligning Risk with Strategy and Performance. Written ​​comments submitted to date will become part of the public record and will be available on the COSO ERM website through Dec. 15, 2016.

Pres​​s Release

​ERM Framework Update Exposure Period N​​ow Open​

​The Committee of Sponso​ring Organizations of the Treadway Commission (COSO) has unveiled​​​ an update to its Enterprise Risk Management – Integrated Framework and is seeking public comment of the proposal, from June 15 through Sept. 30. The update, Enterprise Risk Management — Aligning Risk with Strategy and Performance, 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.​

ERM Fra​​mewor​k U​​​pdate ​​​Website​

P​ress Re​​lease​

COSO Names Advisory Group for ERM-Integrated Framework Update

The Com​mittee of Spo​nsoring Organizations of the Treadway Commission (COSO) announced the appointed group of advisors and observers for the project to review and update the 2004 Enterprise Risk Management — Integrated Framework (Framework). The group is made up of representatives from leading professional service, technological, legal, academic and public organizations.

Advis​​​​​ory ​Board M​​em​bers​​​

CO​S​​O Announces Project to Update Enterprise Risk Management-Integrated Framework

The Board of The ​Committee of Sponsoring Organizations of the Treadway Commission (COSO) on Oct. 21, 2014 announced a project to update the 2004 Enterprise Risk Management — ​Integrated Framework (Framework). The Framework is a widely accepted framework used by management to enhance an organization’s ability to manage uncertainty, consider how much risk to accept, and improve understanding of opportunities as it strives to increase and preserve stakeholder value.

This initiative is intended to enhance the Framework’s content and relevance in an increasingly complex business environment so that organizations worldwide can attain better value from their enterprise risk management programs. The Framework will be updated to update concepts developed in the original Framework and to reflect the evolution of risk management thinking and practices, as well as changing stakeholder expectations. The initiative will also develop tools to assist management in reporting risk information and in reviewing and assessing the application of enterprise risk management.

COSO has engaged PricewaterhouseCoopers LLP (PwC) to update the Framework under the Board's leadership and direction.

As part of its efforts to seek input and feedback from interested parties, the PwC project team has created an online survey ​that will remain open until Dec. 20, 2014.

The survey is designed to capture insights as to how they might update the original Framework to enhance concepts developed in that Framework and to reflect the evolution of risk management thinking and practices, as well as changing stakeholder expectations.

These perspectives will help shape the nature and extent of the proposed updates to the Framework. The updated Framework will be exposed for public comment, allowing for detailed and focused feedback.

The COSO Board also intends to form a cross-functional Advisory Council comprising individuals from across industries, academia, government agencies, and not-for-profit organizations. The Advisory Council’s collective experience and insights will help to address the conceptual and practical challenges associated with enterprise risk management.

Please visit this site periodically for updates. If you wish to provide feedback directly to the PwC team directly, please contact them at COSO-ERM_Update@us.pwc.com.

Take the survey

FAQ Document
November 5, 2014 News Release
October 21, 2014 News Release
Enterprise Ri​sk​ Management ​Framework Reference Copy