By Jaclyn Jaeger2020-12-22T20:49:00+00:00
Following new guidance from the Committee of Sponsoring Organizations of the Treadway Commission (COSO) on how to better identify, monitor, and mitigate compliance risks, a follow-up, one-day virtual conference was held Dec. 18 to help compliance officers better understand the guidance and apply it in practice.
COSO states in its report, “Compliance Risk Management: Applying the COSO ERM Framework,” that its aim is “to provide guidance on the application of the COSO ERM Framework to the identification, assessment, and management of compliance risks” in alignment with the compliance and ethics (C&E) program framework. In all, COSO’s compliance risk management framework describes 120 key characteristics of an effective C&E program.