[for425]

I am having a tough time understanding the big picture difference between COSO and ERM (Enterprise Risk Management).

Can anyone help give me an explanation?

FAR - 72, 81
BEC - 76
REG - 78
AUD - 61 (1/24), Retake (6/6)

Materials: Becker
FAR Retake: + Wiley TB
REG & AUD: + Ninja MCQ

[Anonymous]

So I have not gotten to BEC yet, but I do work in the internal control/ERM arena, so I will answer your question but keep in mind it is a ‘real life' answer (and not necessarily how Becker would define it). COSO is a framework used for internal controls.

ERM is how an organization manages risk exposure. It utilizes a top down approach and begins with a risk appetite assessment (at least that is how I have always done it).

[for425]

@ErikaG28 Thank you!

FAR - 72, 81
BEC - 76
REG - 78
AUD - 61 (1/24), Retake (6/6)

Materials: Becker
FAR Retake: + Wiley TB
REG & AUD: + Ninja MCQ

[MaLoTu]

Erika gave a good synopsis … I can't think of anything to add. I just wanted to say definitely know both, inside and out.

[Author]

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