Why are we updating the 2004 COSO ERM Framework?

COSO engaged us to update the ERM – Integrated Framework to address how the alignment of risk, strategy and performance could create opportunity for better business performance.

COSO released the updated draft Framework to the public for an 100+ day comment period. While it’s consistent with the 2004 version, it provides boards and management with the principles to manage risk, from strategy-setting through execution. It clearly establishes the connections between risk, strategy and performance to create, preserve and realize value.

What is the COSO ERM – Integrated Framework?

Originally developed in 2004 by the Committee of Sponsoring Organizations of the Treadway Commission (COSO), the COSO ERM – Integrated Framework is one of the most widely recognized and applied risk management frameworks in the world.

The Framework provides guidance to boards and management to manage risks from strategy setting through execution and recognizes the increasing importance of the connection between strategy and entity performance.

In 2014 COSO engaged PwC to serve as the project team. The draft updated Framework - COSO Enterprise Risk Management – Aligning Risk with Strategy and Performance - addresses the need for an improved approach to managing risk as a way to help create, preserve, sustain and realize value.

Join the conversation: #ERMFramework

Our history with COSO

COSO and PwC have long-standing engagement. In 1992, COSO first engaged PwC to develop the Internal Control-Integrated Framework and then the subsequent updated Framework in 2013.

Contact us

Miles Everson

Global Advisory Leader 
Tel: + 1 (646) 471 8620

Matthew Bagin

Tel: +1 (703) 762 7281

Sallie Jo Perraglia

Tel: +1 (646) 471- 1371

Dennis Chesley

Project Lead Partner and Global Risk Leader
Tel: +1 (202) 730 8036

Maria Grimshaw

Senior Associate
Tel: +1 (212) 461 9354

Kate Sylvis

Tel: +1 (703) 918 3745

Frank Martens

Project Leader and Director
Tel: +1 (604) 806 7590

Helene Katz

Tel: +1 (646) 471 0491

Kathy Zelnik

Tel: +1 (202) 730 4230