This is an update pertaining to changes that are happening in the Enterprise Risk Management (ERM – note: GRC or Governance, Risk and Compliance is a common synonym) system. Origami Risk is providing enhancements in response to client and prospect requests, as well as some major evolution in ERM as it is perceived by many of the stakeholders.
What is driving change and interest in ERM?
Two key changes in 2017 are:
- COSO ERM 2017 Revision: Published mid October, this update is primarily aimed at Internal Auditors, however, because of their often strong position at very high levels in many organizations, this framework is often better known than ISO 31000, especially, but not exclusively in USA. This update makes a much clearer connection between Objectives of an organization and the risks and their related controls.
- ISO 31000 2017 revision: Due to be published early 2018, this ERM framework has been extensively adopted globally and provides a realistic approach to the way any form of organization manages risks.
These two prime drivers of ERM are now more closely aligned.
What can you expect? … read more