How To Develop Your Skill For Great Success And Happiness Including Become CPA? | Additional special tips From Admin
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Draft guidance applies ERM principles to ESG risk
Recently issued supplemental draft guidance is designed to help organizations apply enterprise risk management (ERM) principles to environmental, social, and governance (ESG)-related risks.
The draft would be a supplement to the Enterprise Risk Management — Integrating With Strategy and Performance framework that was updated by the Committee of Sponsoring Organizations of the Treadway Commission (COSO) in 2017.
COSO is a group of five sponsoring organizations, including the AICPA, that provides thought leadership on ERM, internal control, and fraud deterrence. The draft supplemental guidance was issued by COSO and the World Business Council for Sustainable Development (WBCSD).
The supplemental draft discusses:
“As ESG-related risks are becoming more widespread, organizations need to ensure they have processes in place for identifying, assessing, and managing these complex entity-level risks and opportunities,” said COSO Chairman Paul Sobel. “As with any group of risks, integrating ESG-related risks into ERM enables organizations to realize long-term value.”
The draft guidance is intended to help organizations respond to ESG-related risks ranging from extreme weather events to product safety recalls. WBCSD CEO Peter Bakker said companies that have a strong grasp on their risks make better business decisions.
“With this work, we’re going to help drive positive change in corporate governance,” Bakker said in a news release. “Better regulation will take time, but the work we’re doing with COSO that embraces the COSO risk management framework is something that can have a massive impact.”
Comments on the draft will be accepted through June 30 and can be emailed to risk@wbcsd.org.
— Ken Tysiac (Kenneth.Tysiac@aicpa-cima.com) is a JofA editorial director.
Research & References of Draft guidance applies ERM principles to ESG risk|A&C Accounting And Tax Services
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A note for you if you pursue CPA licence, KEEP PRACTICE with the MANY WONDER HELPS I showed you. Make sure to check your works after solving simulations. If a Cashflow statement or your consolidation statement is balanced, you know you pass right after sitting for the exams. I hope my information are great and helpful. Implement them. They worked for me. Hey.... turn gray hair to black also guys. Do not forget HEALTH?
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