Gearing your organization up to develop and follow an effective risk culture, COSO Enterprise Risk Management, Second Edition presents COSO ERM as the optimal way of looking at all aspects of risk management in today's organization, equipping professionals to better understand the COSO ERM framework and make maximum use of this tool in evaluating the risks associated with all business decisions.Using the COSO ERM framework's model and terminology, this book reveals how compliance with well-recognized and mandated standards are important for every organization and how a corporation can demonstrate that it is following best practices and is in conformity with regulatory rules. The Second Edition thoroughly provides the latest guidance on relevant topics including:

• How COSO ERM is an important element in enterprise governance, risk, and compliance (GRC) processes
• The PCAOB's release of AS5, calling for enterprises to perform "top-down" risk analyses of their own internal controls
• ISACA's recently revised COBIT (Control Objectives for Information-related Technology)
• Recently released standards from the Institute of Internal Auditors (IIA) specifying that internal auditors must assess risks when performing their internal audits
• The AICPA's recently released Risk Assessment Standards for private companies
• ISO 3100, a new international standard on risk management
• The new Open Compliance and Ethics Group (OCEG) risk guidance
• Information technology and ERM including discussion of application systems risks, effective continuity planning, and risks to systems network access including worms and viruses

Helping business professionals, from staff internal auditors to corporate board members, understand risk management in general and make more effective use of the new COSO ERM risk management framework, COSO Enterprise Risk Management, Second Edition shows you how to master the various aspects of enterprise risk management¿and succeed.