COSOs 2010 Report on ERM: Current State of Enterprise Risk Oversight and Market Perceptions of COSOs ERM Framework

Since its release in 2004, COSOs Enterprise Risk Management Integrated Framework (COSOs ERM Framework) has been widely recognized as a respected authority on the topic of Enterprise Risk Management (ERM). However, other than anecdotal observations, COSO lacked any concrete information on the extent of its adoption within organizations or market perceptions about its usability. To gain a sense for the extent of use, consideration, or reliance on COSOs ERM Framework, COSO commissioned the Enterprise Risk Management Initiative at North Carolina State University to conduct a survey in summer 2010 working through the COSO sponsoring organizations. This survey was targeted to individuals who are involved in leading ERM related processes or knowledgeable about those efforts within their organization. We received responses from 460 individuals who answered over 24 questions in the online survey that addressed both the risk management practices of the entity for which the individual is a member of management, as well as that individuals perceptions about the strengths and weaknesses of COSOs ERM Framework.