The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has introduced a COSO Enterprise Risk Management Certificate program for professionals who want to demonstrate their expertise in the COSO ERM Framework.

COSO updated its ERM Framework last September. It’s one of the most widely used risk management frameworks in the world, employed by many organizations that also rely on COSO’s Internal Control Integrated Framework, which the group updated in 2013. The ERM Framework is designed to help organizations implement enterprise risk management and connect it with strategy-setting and organizational performance.

The COSO ERM Certificate is aimed at professionals who play a risk management role in entities of any size, along with consultants who provide ERM-related advisory services, and board members who oversee ERM. Participants learn about analyzing the value of ERM when establishing and fulfilling strategy and objectives; applying the integration of ERM with strategy and performance; and using ERM concepts in various circumstances.

The program combines self-paced learning with a hands-on workshop, followed by an online exam. Candidates who finish the program and pass the exam receive an official COSO ERM Framework Certificate and Digital Badge to display their competency at integrating ERM with strategy and performance.

“The complexity of enterprise risk has changed, new risks have emerged, and managing it has become everyone’s responsibility,” said COSO chair Paul Sobel in a statement. “Participants will learn the concepts and principles of the newly updated ERM framework and be prepared to integrate the framework into their organization’s strategy-setting process to drive business performance. By offering a unique opportunity to develop expertise in enterprise risk management through a blend of self-paced learning and live classroom training, the Certificate is ideal for professionals who want to take control of their risk management strategy.”

COSO is jointly sponsored by five accounting and auditing organizations — the American Accounting Association, the American Institute of CPAs, Financial Executives International, the Institute of Management Accountants, and the Institute of Internal Auditors — and the new certificate program can be offered only by them.

For more information, visit www.coso.org.

COSO chairman Paul Sobel speaking at an Institute of Internal Auditors conference
COSO chairman Paul Sobel speaking at an Institute of Internal Auditors conference Courtesy of COSO and the IIA

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Michael Cohn

Michael Cohn

Michael Cohn, editor-in-chief of AccountingToday.com, has been covering business and technology for a variety of publications since 1985.