COSO Framework: COSO Enterprise Risk Management
COSO’s (The Committee of Sponsoring Organizations) vision is to define essential enterprise risk management components and provide clear direction and guidance for enterprise risk management professionals. COSO directs organizations to improve performance by developing thought leadership that enhances internal control, risk management, governance and fraud deterrence. COSO has developed an Integrated Risk Management Framework that divides internal control objectives into three categories: operations, reporting, and compliance. COSO’s five components of internal control include standards and processes for control environment, ethical values, organizational structure, commitment to employ competent employees, and human resource policies.
COSO Enterprise Risk Management with VComply
VComply supports COSO Framework and helps organizations design and implement internal controls so that they can focus on adhering to laws, and compliance and improve the effectiveness of the organization. VComply provides a central library with a prebuilt compliance framework and change control capabilities. It simplifies and streamlines risk management processes with pre-configured risk score guidance and inherent and residual risk assessments. VComply enables companies to identify, assess, manage, and monitor their risks. It empowers risk managers with a risk register and their corresponding controls and assessments; results from individual assessments; key risk indicators in a single solution. Its workflow capabilities streamline the risk assessment process and reduce operational risks.
PRODUCT CAPABILITIES
Improve Your Risk
Management
- Supports a reusable risk register and central library with pre-defined controls
- Implement workflows to streamline risk management processes
- Prioritize risks with heat maps, reports, and dashboards
PRODUCT CAPABILITIES
Harness Insights and
Reduce Operational
Risks
- Visualize the risk landscape of your organization
- Map controls to risks and develops new controls and monitors the effectiveness of controls
- Track and implement remediation process across organization
ISO
VComply helps you make your ISO compliance process easier with prebuilt applications with ready-to use internal controls.
PCI DSS
VComply provides customers with a repository of controls mapped to the PCI Framework requirements.
GDPR
VComply offers an integrated framework to implement and manage data privacy regulations such as GDPR.
SOX
VComply’s SOX compliance solution provides a framework for managing the complex requirements of SOX requirements.
CCPA
VComply brings together risk management, compliance, audit and policy practices. It provides a centralized framework to implement consumer privacy regulations such as CCPA.
Controls
VComply is a powerful compliance management platform with a pre-built internal control framework.
Task Management
Comply automates compliance processes in an organization and goes further to offer integrated risk assessment and policy management programs.
NIST
VComply enables organizations to map their data and efficiently implement controls to track and manage compliance with NIST standards.
Regulatory Compliance
VComply’s Regulatory Compliance Solution helps you stay up-to-date and compliant by implementing measures, processes, and policies.
Internal Audit
Disruptions, threats, uncertainty, and changes are part of today’s organizations. Companies need a resilient approach, frameworks, and mechanisms to bounce back when dealt with unexpected risks.
Policy Management
Clear and actionable policies are integral to good governance of any organization. Policy management is a comprehensive process that is aimed toward ensuring that the various parts of the organization work…
