Управление на риска в съответствие с рамката COSO – ERM. Сравнение на двата COSO модела – COSO IC и COSO ERM
Risk Management in Accordance with the COSO – ERM Framework. Comparison of the Two COSO Models – COSO IC and COSO ERM

Author(s): Nikolay Yovchev
Subject(s): Economy, Business Economy / Management, Accounting - Business Administration, Socio-Economic Research
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: internal control; risk; conceptual framework; processes; COSO
Summary/Abstract: Since the inception of the original COSO framework, there have been dramatic changes in the business and operating environment, which is increasingly complex, technology dependent and global. At the same time, stakeholders are participating in processes more intensively and are seeking greater transparency and accountability regarding the integrity of internal control systems supporting business decisions and management processes in organizations. For different corporations, these objectives have their specificities, but what is universal is that they want to achieve: maximum assurance of the reliability of the reporting produced, minimization of risks, prevention of fraud, efficiency of implementation, compliance with applicable norms, rules and standards. In this study, I aim to clarify these modifications so that their practical application becomes clearer and to point out the main differences between the two frameworks based on three dimensional COSO IC and COSO ERM models.

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