Committee of Sponsoring Organizations (COSO) releases framework about enterprise risk management. COSO made its name with its internal control framework, which was cited in Sarbanes-Oxley Act. The framework breaks ERM into four categories: strategic, operational, reporting and compliance. It assumes that every risk can be avoided, accepted, reduced or shared. The marketplace will now decide if this is useful, says longtime chairman John Flaherty, former general auditor of PepsiCo. “If the product is as good as we think it is, it’s going to sell,” he says.”]
Source: https://www.csoonline.com/article/2117963/coso-s-framework-for-enterprise-risk-management.html