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CIMAPRA19-P03-1 Exam - Topic 6 Question 72 Discussion

The Committee of Sponsoring Organisations (COSO) outlined six key principles of Enterprise Risk Management (ERM).Which of the following are COSO key principles?
A) The creation of a risk aware culture. and B) A comprehensive and holistic approach to risk management. and D) Consideration of risk management in the context of business strategy.
C) Risk management is the responsibility of the risk committee.
E) Consideration of the main risk only which is financial risk.

CIMAPRA19-P03-1 Exam - Topic 6 Question 72 Discussion

Actual exam question for CIMA's CIMAPRA19-P03-1 exam
Question #: 72
Topic #: 6
[All CIMAPRA19-P03-1 Questions]

The Committee of Sponsoring Organisations (COSO) outlined six key principles of Enterprise Risk Management (ERM).

Which of the following are COSO key principles?

Show Suggested Answer Hide Answer
Suggested Answer: A, B, D

by Lourdes at Jul 12, 2025, 04:18 AM

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Filiberto
7 months ago
B is spot on, holistic approach is crucial!
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Tasia
7 months ago
C sounds off to me, risk management is broader than just a committee.
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Tequila
7 months ago
A is definitely one of the principles!
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Luis
8 months ago
Wait, E can't be right, right? Only focusing on financial risk seems too narrow.
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Coral
8 months ago
I think D is also a key one.
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Fernanda
8 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.
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Carmen
8 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.
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Alison
8 months ago
I remember practicing a question about a holistic approach to risk management. That sounds familiar, so I might go with option B.
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Ryann
9 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.
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Tayna
9 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.
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Jonelle
9 months 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.
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Maryann
9 months 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.
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Abel
9 months 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.
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Judy
9 months ago
This seems pretty straightforward. I'm confident I can identify the COSO key principles based on the options provided.
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Lashaunda
11 months ago
I believe C and E are also important, as they ensure accountability and a focus on all types of risks.
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Eileen
11 months ago
I agree with Glenn, those principles make sense for effective risk management.
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Glenn
12 months ago
I think the key principles are A, B, D.
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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.
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Roselle
11 months ago
Having a risk committee responsible and aligning with business strategy are crucial for success.
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Kris
12 months ago
I agree, a holistic approach is key to effective risk management.
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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.
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Roslyn
10 months ago
D) Consideration of risk management in the context of business strategy.
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Herminia
10 months ago
B) A comprehensive and holistic approach to risk management.
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Loreta
11 months ago
A) The creation of a risk aware culture.
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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.
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Sage
12 months ago
Yes, B and D are definitely part of the six key principles of Enterprise Risk Management according to COSO.
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Justine
1 year ago
I think you're right, those are the key principles outlined by COSO.
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Pamella
1 year ago
I agree, B and D are indeed COSO key principles.
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