Problem 13-11 [LO 13-2] The COSO ERM 2017 framework codifies 20 principles associated with the five components of enterprise risk management. Required: Match the following principles with the five components. COSO ERM Principles a. Report on risk, culture, and performance b. Review risk and performance c. Pursue improvement in ERM d. Exercise board risk oversight eAttract, develop, and retain capable individuals t Prioritize risks Define risk appetite h Assess substantial change COSO ERM Components

Business/Professional Ethics Directors/Executives/Acct
8th Edition
ISBN:9781337485913
Author:BROOKS
Publisher:BROOKS
Chapter8: Subprime Lending Fiasco-ethics Issues
Section: Chapter Questions
Problem 3.18EC
icon
Related questions
Question
None
Problem 13-11 [LO 13-2]
The COSO ERM 2017 framework codifies 20 principles associated with the five components of enterprise risk management.
Required:
Match the following principles with the five components.
COSO ERM Principles
a. Report on risk, culture, and performance
b. Review risk and performance
c. Pursue improvement in ERM
d. Exercise board risk oversight
e Attract, develop, and retain capable individuals
t Prioritize risks
9 Define risk appetite
h Assess substantial change
COSO ERM Components
Transcribed Image Text:Problem 13-11 [LO 13-2] The COSO ERM 2017 framework codifies 20 principles associated with the five components of enterprise risk management. Required: Match the following principles with the five components. COSO ERM Principles a. Report on risk, culture, and performance b. Review risk and performance c. Pursue improvement in ERM d. Exercise board risk oversight e Attract, develop, and retain capable individuals t Prioritize risks 9 Define risk appetite h Assess substantial change COSO ERM Components
Expert Solution
steps

Step by step

Solved in 3 steps

Blurred answer
Knowledge Booster
Types of Audit and Assurance Services
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Business/Professional Ethics Directors/Executives…
Business/Professional Ethics Directors/Executives…
Accounting
ISBN:
9781337485913
Author:
BROOKS
Publisher:
Cengage
Intermediate Financial Management (MindTap Course…
Intermediate Financial Management (MindTap Course…
Finance
ISBN:
9781337395083
Author:
Eugene F. Brigham, Phillip R. Daves
Publisher:
Cengage Learning
Managerial Accounting: The Cornerstone of Busines…
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Auditing: A Risk Based-Approach (MindTap Course L…
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning