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COSO issues risk appetite thought paper A new thought paper aimed at helping organizations better articulate, develop, and implement risk appetite, has been published by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). ‘Enterprise Risk Management – Understanding and Communicating Risk Appetite’ is the latest in a series of COSO papers providing ERM practitioners with thought leadership on performing more effective risk management. According to the authors of the paper, risk appetite is the amount of risk that organizations are willing to accept in pursuit of their objectives. Written by Larry Rittenberg, the Ernst & Young Professor of Accounting at the University of Wisconsin-Madison, and Frank Martens, a director in the Advisory Practice of PwC, the thought paper provides examples of statements of risk appetite and emphasizes the notion that risk appetite should be communicated by management, embraced by the board, and integrated throughout the entity. ‘Enterprise Risk Management – Understanding and Communicating Risk Appetite’ can be downloaded as a PDF from here. •Date: 27th January 2012 • World •Type: Article • Topic: Enterprise risk management
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