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committee of sponsoring organizations of the treadway commission (COSO)

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is an organization in the USA that aims to improve internal control systems in companies with its guidelines.

To this end, the COSO has developed a framework that forms the basis for the regulations, rules and provisions. This framework is called: Internal Control, Overarching Framework. With this model, which has also been incorporated into Enterprise Risk Management( ERM) and serves enterprise-wide risk management, risks can be assessed and controlled. This applies equally to organizational, economic and information technology facilities.

The COSO model focuses on risk alignment, organizational risk appetite, and strategic alternatives; it helps improve risk-related decision-making and is designed to prevent losses in business units. In addition, the COSO model can be used to determine, evaluate, and manage risks, and the risk information can be used to assess the cost of capital( CapEx) and improve its allocation.

Informations:
Englisch: committee of sponsoring organizations of the treadway commission - COSO
Updated at: 16.08.2010
#Words: 148
Links: framework, enterprise resource management (ERM), risk management, information technology (IT), indium (In)
Translations: DE
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