The Institute of Enterprise Risk Practitioners (IERP®) is the world’s first and leading certification institute for Enterprise Risk Management (ERM).

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  /  Posts tagged "RCSA"

COSO is the acronym of the Committee of Sponsoring Organizations of the Treadway Commission, originally established in 1985 to combat corporate fraud, led by James Treadway Jr. The Committee comprised of special-interest organisations in the accounting and auditing industry, including the American Accounting Association; Financial Executives International; the Institute of

According to COSO, internal control is a process designed to provide reasonable assurance of the effectiveness and efficiency of operations; reliability of financial reporting; and compliance with applicable laws and regulations. These relate to the business’s objectives, performance, profitability and resources; its financial health; and its compliance with the laws

In 1992, the Committee of Sponsoring Organisations of the Treadway Commission, COSO, introduced its Internal Control – Integrated Framework with the aim of helping organisations achieve operational objectives, better reporting and compliance. Most companies then did not have the sophisticated internal controls that are widely applied today. What was generally

Before your shortcomings are laid bare before everyone else, it is best that you know them yourself. That way, you have a chance to address (and redress) them before everyone starts telling you what to do. That is basically the premise of Risk and Control Self-Assessments (RCSAs). Of course, having

Far from being a tedious or irrelevant process, Risk and Control Self-Assessments (RCSA) are an excellent way for organisations to identify where their shortfalls may lie, in a controlled, structured manner, without publicly exposing their vulnerabilities. RCSAs are an integral part of the operational risk management framework, and as continued

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