Video: Enterprise Risk Management Overview and Objectives

In this lesson, Nick Palazzolo, CPA, breaks down the essentials of Enterprise Risk Management (ERM), distinguishing it from the COSO internal control framework while elucidating the overlap between the two. He simplifies the complexity of ERM by focusing on its role in avoiding excessive leverage and preventing corporate malfeasance. The session zeroes in on various objectives, such as grasping the components, principles, and structure of the COSO ERM framework, understanding the interplay between risk, strategy, and business performance, and applying the framework to identify risks and opportunities within an entity. Nick encourages engaging with graphical models and concepts that tie risk management directly to real-world business decisions, like entering new markets, aiming to equip with a balanced perspective on risk versus return.