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COSO

Overview

Committee of Sponsoring Organizations (COSO) is a voluntary private-sector organization. COSO is dedicated to guiding executive management and governance entities toward the establishment of more effective, efficient, and ethical business operations on a global basis. It sponsors and disseminates frameworks and guidance based on in-depth research, analysis, and best practices. Two of them are particularly important and strongly integrated with each other: Internal Control – Integrated Framework and Enterprise Risk Management – Integrated Framework.

The Enterprise Risk Management Framework describes the critical principles and components of an effective enterprise risk management process, setting forth how all important risks should be identified, assessed, responded to and controlled. It also provides a common language, so that when executives, directors and others talk about risk management, they are truly communicating.

The Internal Control Framework focuses on control and helps organizations design and implement internal controls in light of many changes in business and operating environments. The ERM Framework is a broader framework that incorporates the internal control framework within it. In other words, one approach to risk is to develop controls to mitigate the risks. The frameworks are compatible and are based on the same conceptual foundation.

Gestão dos Serviços de TI - ITSM

SoftExpert offers the most advanced and comprehensive software solution for compliance management that meets the stringent needs of various global regulations. SoftExpert Excellence Suite helps companies adhere to COSO ERM and Internal Control frameworks while lowering the costs of compliance, maximizing success, increasing productivity and reducing risks.

The SoftExpert solution offers tools for the complete management of the organization’s risks and controls in compliance with COSO frameworks. With online collaboration capabilities, the organization and managers can identify and evaluate risks, implement and monitor controls, perform risk and control assessments, involving more users, teams, offices and business units with a systematic and unified approach to obtain excellence in risk and control management.

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  • Coca-ColaThe implementation of SE Action streamlined our continuous improvement process for managing actions, especially through the workflow functionality. This facilitates the verification of occurrence causes and drafting correction actions.

    Gustavo Martins – Quality Department Assistant

  • CarrierSoftExpert Solution has streamlined data sharing for our quality system and has contributed to reducing impacts on the environment through doing away with the need for storing piles of original and obsolete paper documents for auditing purposes.

    Solange Amaral – Human Resource Analyst

  • CTA-ContinentalSE Document has provided the means to streamline our document control, through excellent drilldown options for searching and registering documents, a systematic workflow
    tool for sending pending tasks to system users, as well as really cutting down on the need for printed copies.


    Ângela Fischer

  • Universal Leaf TabacosSE Document manages ISO standardization documentation to facilitate compliance, as well as all other document types. The workflow system provides great distribution copy control, approval, revision, printed copies, and document retrieval search capabilities. Currently, there are over 1,100 users and 3,500 registered documents.

    Carla Regina Schmitt

  • Group RoullierSE Document completely meets our document control requirements, facilitates retrieval, and manages the entire document revision process.

    Janaina Salatti – Quality Supervisor

  • Mitsubishi MotorsWe have achieved improved dependability as well as standardization in our processes to assure measurement consistency and the required monitoring to verify conformity in our products. This adds enhanced safety and quality to our customers.

    Helton Calaça – SPC Technical Support

  • MenegottiOur productivity and reliability increased greatly. The software helped us to meet the ISO/TS 16949 standard requirements, providing security in the daily routine of the Engineering area and auditing, while easily proving full compliance with the standard and customer requirements.

    Jeferson R. F. dos Santos – MENFUND Unit Manager

  • CoinduThe SoftExpert facilitates and speeds up activities, and the system was considered highly suitable for the renewal of ISO/TS 16949 and ISO 14001.

    Cristina Pereira – Gerente adjunta de Informática

  • OpetrecOnline access to wherever we offer services ensures us speedy responses, through reliable and updated information, which, in turn, facilitates decision making and customer satisfaction.

    José Andrade – Opetrec Manager

  • Laboratório GloboThe SE Project was implemented quickly and the time required for the adoption of the solution by the users was quite natural, considering that the pharmaceutical segment is legally required to work with reliable and secure records that guarantee the quality of products and do not represent risks to the population.

    Randel Moreira – IT Manager

Screenshots (Click to Enlarge)

Risk assessment
Control activities
Control self-assessment
Risk monitoring

Benefits

Value is maximized when the management establishes a strategy and objectives to strike an optimal balance between growth and return goals and related risks. COSO framework, supported by an IT solution, promotes the following benefits:

  • Align risk appetite and strategy.
  • Enhance risk response decisions.
  • Reduce operational surprises and losses.
  • Identify and manage multiple and cross-enterprise risks.
  • Seize opportunities.
  • Improve capital deployment.
  • Improve internal controls.
  • Enhance security.
  • Facilitate compliance conformity with related regulations, including ISO 31000, SOX and others.

About SoftExpert

SoftExpert is a market leader in software and services for enterprise-wide business process improvement and compliance management, providing the most comprehensive application suite to empower organizations to increase business performance at all levels and to maximize industry-mandated compliance and corporate governance programs.

Founded in 1995, SoftExpert has a rich history of innovation and growth as a true industry leader. More than 300,000 users from 2,000 organizations worldwide trust SoftExpert applications to ensure the highest standards of efficiency, quality and innovation for their products, services and processes.

By streamlining and integrating all levels and operations, SoftExpert applications also enable organizations to address an ever-increasing variety and number of international standards, laws and regulations that affect business operations by delivering enhanced compliance capabilities based on industry-specific best practices.

SoftExpert solutions are used by leading corporations in all kinds of industries, including consumer products, automotive, food and beverage, mining and metals, high tech and IT, energy and utilities, government and public sector, financial services, transportation and logistics, healthcare, education, medical devices and many others.

Along with its extensive network of resellers spread across all continents, SoftExpert also provides hosting, implementation, post-sales support, and validation services for its solutions to ensure that customers realize the maximum value from their investments.

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