Udemy course COSO vs. ISO: Enterprise Risk Management by Illumeo Learning
COSO vs. ISO: Enterprise Risk Management is the best Udemy course on the market. With this offer they will be able to greatly improve their knowledge and become more competitive within the Finance & Accounting category. Therefore, if you are looking to improve your Finance & Accounting skills we recommend that you download COSO vs. ISO: Enterprise Risk Management udemy course.
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- Author: Illumeo Learning
- Course rating: 4.4
- Category: Finance & Accounting
- Modality: Online
- Status: Available
- Idiom: English
Abouth Illumeo Learning
Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job.
What the udemy COSO vs. ISO: Enterprise Risk Management course teaches?
What you’ll learn Discover the core issues surrounding the Committee of Sponsoring Organizations (COSO) Enterprise Risk Management (ERM) framework. Discover the key elements of the International Organization for Standardization (ISO) 31000 standard. Explore the similarities and differences between COSO and ISO 31000.
This course looks at and compares two of the most popular risk management standards – COSO and ISO 31000.
More information about the course COSO vs. ISO: Enterprise Risk Management
This course is all about Enterprise Risk Management (ERM) standards. Risk management refers to a coordinated set of activities and methods that is used to direct an organization and to control the many risks that can affect its ability to achieve its objectives. In this course, we look at and compare two of the most popular risk management standards – the Committee of Sponsoring Organizations (COSO) framework and the International Organization for Standardization (ISO) 31000. COSO started life in 1992 as the “Internal Control – Integrated Framework” which was updated in 2013, forming the basis for the now well-known COSO Enterprise Risk Management (or ERM) cube. The COSO framework defines internal control as a process, effected by an entity’s board of directors, management and other personnel, designed to provide “reasonable assurance” regarding the achievement of effectiveness and efficiency of a firm’s operations. According to ISO 31000, risk is the “effect of uncertainty on objectives”. An “effect” is a positive or negative deviation from what is expected. This definition recognizes that we all operate in an uncertain world. Whenever we try to achieve an objective, there’s always the chance that things will not go according to plan. Every step has an element of risk that needs to be managed and every outcome is uncertain. Whenever we try to achieve an objective, we don’t always get the results we expect. Sometimes we get positive results and sometimes we get negative results and occasionally, we get both. Because of this, we need to reduce uncertainty as much as possible. COSO and ISO 31000 each represent a standard for managing risk. The key question is what do each of these standards say and most importantly how do they compare. This is the context of this course.