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ISO31000 Coso Erm Similarities and Difference Between ISO 31000 and COSO ERM

ISO 31000 and COSO ERM are both guidelines aimed at achieving objectives and facilitating decision making, but they differ in their focus and structure. ISO 31000 is an international standard applicable to all industries, emphasizing risk management from a management perspective, while COSO ERM is more US-centric, focusing on governance and internal control. Together, they provide a comprehensive framework for risk management that can be adapted across various sectors.

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Daniel Yao
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26 views1 page

ISO31000 Coso Erm Similarities and Difference Between ISO 31000 and COSO ERM

ISO 31000 and COSO ERM are both guidelines aimed at achieving objectives and facilitating decision making, but they differ in their focus and structure. ISO 31000 is an international standard applicable to all industries, emphasizing risk management from a management perspective, while COSO ERM is more US-centric, focusing on governance and internal control. Together, they provide a comprehensive framework for risk management that can be adapted across various sectors.

Uploaded by

Daniel Yao
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

ISO31000與COSO ERM的異同

Similarities and Difference between ISO 31000 and COSO ERM


Similarities
 Not for certification, but as guidelines; no guarantee of absolute assurance GOAL
Objectives Objectives Objectives
 Goal oriented to achieve objectives 目標 目標 目標 目的
 For decision making

ISO 31000 COSO ERM


 More of an international and national standard  More in US led system and an industry practice
 For all industries and business types  More for internal control/audit and accounting
 For management  For governance
 More structured  More conceptual
 Bottom up  Top down
 More on managing risks – to minimize uncertainties  More on taking opportunities – to create and protect values
 From management’s view to preserve value  From Board’s stand to create and protect value

Although from different organizations with difference, ISO 31000 and COSO ERM complement each other like the skeleton,
flesh and blood which provide a holistic map for risk management. From top down and bottom up a practical approach for a wide
spectrum of industries and business can be easily adopted.
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