COSO's Latest ERM Guidance: Shifting from Documentation to Decision-Making

COSO's new guidance, "From Guidance to Action: Exploring Practical Enterprise Risk Management," emphasizes moving Enterprise Risk Management (ERM) beyond mere documentation to actively influencing strategic decisions. This shift is crucial for internal audit and assurance professionals, as it redefines ERM's value proposition from a compliance function to a strategic enabler, demanding a more integrated and decision-focused approach to risk assessment and reporting.