5. Glossary

COSO

Committee Of Sponsoring Organizations of the Treadway Commission is a private-sector initiative in the USA designed to develop frameworks and guidelines for internal control and fraud prevention (COSO I and 2013) and Enterprise Risk Management (COSO II).

ERM

Enterprise Risk Management is sometimes referred to as "risk management".

This risk has a special significance for insurance, and is not insurable. To our knowledge, ERM has not excluded insurable risks from its scope. Possible translations would be integrated enterprise risk management or enterprise risk management. Global risk management more specifically associates the organizational decision-making system with risk management....