Enterprise Risk Management: COSO Application

What is COSO?

The Committee of Sponsoring Organizations (COSO) provides thought leadership and guidelines for risk professionals. COSO developed the Enterprise Risk Management: Integrating with Strategy and Performance framework to help organizations identify and assess enterprise risks that impact their strategic objectives.

COSO Enterprise Risk Management Compliance in Risk Cloud

Risk Cloud® is a cloud-based platform with a suite of pre-built Applications that transforms the way you manage GRC processes by combining expert-level content and service with easy, no-code technology.

Risk Cloud’s Enterprise Risk Management: COSO Application includes pre-configured risk impact, likelihood, velocity, and vulnerability scoring guidance to help your organization assess inherent and residual risk scoring in accordance with COSO guidance.

Align with the COSO Framework

Access COSO’s Enterprise Risk Management: Integrating with Strategy and Performance guidance
Perform risk assessments in accordance with guidance from COSO’s Enterprise Risk Management: Integrity with Strategy and Performance to highlight enterprise, divisional, and functional risks
Auto-calculate risk scores based on predefined impact, likelihood, velocity, and vulnerability rubrics from COSO’s Risk Assessment In Practice

Protect Strategic Initiatives

Create a centralized location for tracking enterprise risks and assessing their impact on your organization’s strategic objectives
Visualize the status of logged risks and their associated remediation activities with pre-built reporting within the Application
Be confident that risk stakeholders across the business can quickly visualize the organization's risk landscape

Improve Your Enterprise Risk Management

Analyze the relationships between your organization’s entity, divisional, operational, and functional level objectives and risk scores
Automate the creation of risk assessments in alignment with your organization’s preferred cadence
Alert risk and response owners of their required tasks with predefined jobs and messaging to help them stay on track