BLANKA is the CEO of a newly established financial consulting firm in NEW YORK. The firm is managed by BLANKA and it has 7 employees. BLANKA has recently heard about COSO ERM, and he is willing to establish an ERM system for his firm. BLANKA asks for your assistance with regards the ERM framework and how is looking for a detailed guidance on how the ERM system can be developed.

Prepare report about how the ERM should be developed to assist the firm in risk management.

This question related to the internal audit material, so if you can't answer the question let someone else answer it.

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