COSO ERM for BAR

Question 2

COSO ERM GOVERNANCE AND CULTURE (This is pure memorization for test day)

Answer 2

DADEE ACRONYM
Defines desired culture
attracts, develops, and retains employees
Demonstrates commitment to core values
Exercises board oversight
establishes operating structure

Question 3

COSO ERM STRATEGY AND OBJECTIVE SETTING (This is pure memorization for test day)

Answer 3

SOAR
Strategies
Objectives for business
Analyzes business context
Risk appetite is defined

Question 4

COSO ERM PERFORMANCE (This is pure memorization for test day)

Answer 4

DAPII
Develops portfolio View
Assesses severity of risk
Prioritizes risk
Identifies risk
Risk Reponses

Question 5

COSO ERM REVIEW AND REVISION (This is pure memorization for test day)

Answer 5

SIR
Substantial Change
Improvement in ERM
Review risk and performance

Question 6

COSO ERM INFORMATION, COMMUNICATION, AND REPORTING (This is pure memorization for test day)

Answer 6

TCP
Technology and information
Communications risk Information
Reports on risk, culture, and performance