The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released a thought paper, Strengthening Enterprise Risk Management for Strategic Advantage, that highlights specific areas where senior management can work with directors to enhance the board’s risk oversight capabilities and the organization’s strategic value. This document builds on four specific board risk oversight responsibilities outlined in another COSO thought paper, Effective Enterprise Risk Oversight: The Role of the Board of Directors, that was released Sept. 1 to provide more detail on ways senior management can work with the board and others in the organization to strengthen risk management in all types of organizations. Both thought papers can be downloaded for free at coso.org.
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