The COSO Enterprise Risk Management (ERM) framework is designed to integrate risk management into the broader business strategy and processes of an organization. It works in conjunction with the COSO Internal Control—Integrated Framework but operates independently in its focus on managing risk and achieving objectives.
D. The framework integrates with, but is not dependent upon, the corresponding internal control framework.
This statement is not true. The COSO enterprise risk management framework is closely related to the COSO internal control framework. The two frameworks are designed to be integrated, with the risk management framework building upon the internal control framework. The risk management framework expands on the internal control framework's concepts and provides additional guidance for managing risks effectively.
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