Committee of Sponsoring Organizations (COSO) released a draft update to its Enterprise Risk Management (ERM) Framework. The original ERM Framework was issued in 2004 and was last updated in 2013. The framework is comprised of five components supported by 23 principles. The five components are risk governance and culture; risk, strategy and objective setting; risk in execution; risk information, communication and reporting; and monitoring enterprise risk management performance. The framework forces a top-down approach ensuring that the needs of key stakeholders are understood.”]