COSO
IF - R
Risk Assesment
IF - R Acronym
SAFR Specify objectives Assess identified changes Fraud potential Risk identification and analysis
ERM - R Acronym
SIR Substantial change assessed Improvement in ERM pursued Reviews risk and performance
ERM - O1 Acronym
SOAR Strategies evaluated Objectives formulated Analyze business context Risk appetite defined
IF - M Acronym
SOD Seperate & Ongoing evaluations Deficiencies Communicated
ERM - O Acronym
TIP Technology and information leveraged Information about risk communicated Performance, risk, and culture reported
ERM - P Acronym
VAPIR View developed Assess severity of risk Prioritize risk Identify risk Response to risk implemented
IF - E Acronym
CAT P Control activities Technology controls Policies and procedures
IF - C
Control Environment
ERM - G Acronym
DOVES Desired Culture Oversight Value Commitment Employees Structure
IF - C Acronym
EBOCA Ethical Commitment Board independence and oversight Organizational Structure Competence Accountability
IF - E
Existing Controls
ERM - G
Governance and Culture
IF - I
Information and Communication
IF - M
Monitoring
IF I Acronym
OIEI Obtain and use info Internally communicate info External party info
ERM - O
Objective Setting
ERM - O
Ongoing information, communication, and reporting
ERM - P
Performance
ERM - R
Review and Revision