Improving Organizational Performance and Governance: How the COSO Frameworks Can Help

​The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has published a new thought paper, Improving Organizational Performance and Governance: How the COSO Frameworks Can Help, developed to illustrate how the enterprise risk management (ERM) framework released in 2004 and the recently updated internal control framework can contribute to enhancing organizational performance and governance for sustainable success. 

Co-authored by Protiviti Managing Director James DeLoach and IMA President and CEO Jeffrey C. Thomson, the paper relates the COSO frameworks to an overall business model and describe how the key elements of each framework contribute to an organization’s governance, strategy setting and management processes (i.e., an organization’s business planning, execution, monitoring, and adapting processes). The authors point out that the COSO frameworks use a common language for risk-focused communications, enabling directors, executive management, and internal and external stakeholders to communicate more effectively regarding risk, risk management and internal control.