ERM企业的风险管理框架英文.pptx

ERM企业的风险管理框架英文 Applying COSO’sEnterprise Risk Management — Integrated FrameworkSeptember 29, 2004 Today’s organizations are concerned about:Risk ManagementGovernanceControlAssurance (and Consulting) ERM Defined:“… a process, effected by an entity's board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risks to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives.”Source: COSO Enterprise Risk Management – Integrated Framework. 2004. COSO. Why ERM Is Important Underlying principles:Every entity, whether for-profit or not, exists to realize value for its stakeholders.Value is created, preserved, or eroded by management decisions in all activities, from setting strategy to operating the enterprise day-to-day. Why ERM Is Important ERM supports value creation by enabling management to:?Deal effectively with potential future events that create uncertainty.Respond in a manner that reduces the likelihood of downside outcomes and increases the upside. This COSO ERM framework defines essential components, suggests a common language, and provides clear direction and guidance for enterprise risk management.Enterprise Risk Management — Integrated Framework The ERM FrameworkEntity objectives can be viewed in thecontext of four categories:Strategic OperationsReportingCompliance The ERM FrameworkERM considers activities at all levelsof the organization:Enterprise-levelDivision or subsidiaryBusiness unit processes Enterprise risk managementrequires an entity to take a portfolio view of risk. The ERM Framework Management considers how individual risks interrelate.Management develops a portfolio view from two perspectives:- Business unit level- Entity levelThe ERM Framework The eight componentsof the frameworkare interrelated …The ERM Framework Internal EnvironmentEstablishes a philosophy re