The enterprise risk management report defines 16 overlapping components.

Question

Quizplus · Accepted Answer

The enterprise risk management (ERM) framework, as defined by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), identifies 8 interconnected components, not 16. These components are Internal Environment, Objective Setting, Event Identification, Risk Assessment, Risk Response, Control Activities, Information and Communication, and Monitoring.

The Enterprise Risk Management Report Defines 16 Overlapping Components