Introduction
Previous chapters presented numerous examples of how (International Organization for Standardization) ISO and COSO risk management standards work in a collaborative manner. In this chapter, we will explore some of the “principles” in COSO ERM:2017 that can be added to ISO 31000:2018 to improve risk management effectiveness.
By having a focus on an “enterprise risk management” program, COSO ERM:2017 helps people manage financial risks and compliance with the provisions of Sarbanes-Oxley Section 401. It also can help improve the management of “non-financial” risks associated with issues such as fraud and cybercrimes. Some companies use ISO 31000:2018 for the non-financial risks and COSO ERM:2017 ...
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