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The Committee of Sponsoring Organisations (COSO) outlined six key principles of Enterprise Risk Management (ERM).
Which of the following are COSO key principles?
Suggested Answer: A, B, D
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28 comments · newest first
FI
Filiberto
10 months ago
B is spot on, holistic approach is crucial!
TA
Tasia
10 months ago
C sounds off to me, risk management is broader than just a committee.
TE
Tequila
10 months ago
A is definitely one of the principles!
LU
Luis
11 months ago
Wait, E can't be right, right? Only focusing on financial risk seems too narrow.
CO
Coral
11 months ago
I think D is also a key one.
FE
Fernanda
11 months ago
I know that considering risk in the context of business strategy is important, so I think option D is definitely one of the key principles.
CA
Carmen
11 months ago
I’m a bit confused about whether risk management being the responsibility of the risk committee is a principle. It feels like it could be, but I can't recall for sure.
AL
Alison
12 months ago
I remember practicing a question about a holistic approach to risk management. That sounds familiar, so I might go with option B.
RY
Ryann
12 months ago
I think the creation of a risk-aware culture is definitely one of the principles, but I'm not entirely sure about the wording.
TA
Tayna
12 months ago
Hmm, I'm a little confused. The COSO principles seem to be more about the overall approach to risk management, not just the responsibilities of a risk committee. I'll need to re-read the question and options carefully.
JO
Jonelle
1 year ago
Ah, I remember now! The COSO principles cover things like creating a risk-aware culture and considering risk in the context of business strategy. I'll make sure to select those key points.
MA
Maryann
1 year ago
Okay, let me think this through. I remember the COSO principles emphasize a comprehensive, holistic approach to risk management, not just focusing on financial risk. I'll select the options that align with that.
AB
Abel
1 year ago
Hmm, I'm a bit unsure about this one. I know COSO has principles for ERM, but I can't recall them off the top of my head. I'll need to think through each option carefully.
JU
Judy
1 year ago
This seems pretty straightforward. I'm confident I can identify the COSO key principles based on the options provided.
LA
Lashaunda
1 year ago
I believe C and E are also important, as they ensure accountability and a focus on all types of risks.
EI
Eileen
1 year ago
I agree with Glenn, those principles make sense for effective risk management.
GL
Glenn
1 year ago
I think the key principles are A, B, D.
GI
Gilberto
1 year ago
Gotta go with B, C, and D. A holistic approach, risk committee responsibility, and strategic alignment - that's the COSO way. Though I do wonder if they have a secret 7th principle: always have snacks on hand for risk meetings.
RO
Roselle
1 year ago
Having a risk committee responsible and aligning with business strategy are crucial for success.
KR
Kris
1 year ago
I agree, a holistic approach is key to effective risk management.
CH
Cherelle
1 year ago
E? Really? Considering only financial risk? That's like trying to put out a forest fire with a squirt gun. COSO is all about a big-picture view of enterprise risk.
RO
Roslyn
1 year ago
D) Consideration of risk management in the context of business strategy.
HE
Herminia
1 year ago
B) A comprehensive and holistic approach to risk management.
LO
Loreta
1 year ago
A) The creation of a risk aware culture.
CH
Chara
1 year ago
I think the correct answer is B and D. A comprehensive and holistic approach to risk management, and considering risk management in the context of business strategy, are definitely COSO principles.
SA
Sage
1 year ago
Yes, B and D are definitely part of the six key principles of Enterprise Risk Management according to COSO.
JU
Justine
1 year ago
I think you're right, those are the key principles outlined by COSO.
PA
Pamella
1 year ago
I agree, B and D are indeed COSO key principles.