The COSO organization has issued a document describing a com- prehensive approach to Enterprise Risk Management (ERM).

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a. What are the major elements contained in the definition of ERM?

b. Identify the eight components of the ERM framework.

c. Why is it important that an organization have an effective ERM? What are the implications to the external audit if an organization does not have a compre- hensive and effective ERM?

d. What role does the internal audit department play in an organization's ERM?

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Auditing Concepts For A Changing Environment

ISBN: 9781284249286

5th Edition

Authors: Larry E. Rittenberg, Bradley J. Schwieger

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Question Posted: May 05, 2024 09:01 AM

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The COSO organization has issued a document describing a com- prehensive approach to Enterprise Risk Management (ERM).

Question:

Step by Step Answer:

a The major elements contained in the definition of Enterprise Risk Management ERM include ERM is a comprehensive approach to identifying assessing managing and monitoring all risks that could potenti...View the full answer

Auditing Concepts For A Changing Environment

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