An Enterprise Risk Management Frameworks: A Critical Review

Usman, Yunusa Kofar-Sauri.; Abdulrazaq, Mustapha. | Musa-Haddary Y. G. | Ahmadu, A. Hassan.; Isah, Bishir Malumfashi.

Title:
An Enterprise Risk Management Frameworks: A Critical Review

Authors:
Isah, Bishir Malumfashi. | Usman, Yunusa Kofar-Sauri. | Abdulrazaq, Mustapha. | Musa-Haddary Y. G. | Ahmadu, A. Hassan.

Cite This Article :

Isah, Bishir Malumfashi. | Usman, Yunusa Kofar-Sauri. | Abdulrazaq, Mustapha. | Musa-Haddary Y. G. | Ahmadu, A. Hassan. "An Enterprise Risk Management Frameworks: A Critical Review" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-10 | Issue-1, February 2026, pp.1214-1221, URL: https://www.ijtsrd.com/papers/ijtsrd100167.pdf

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Abstract :
Modern business environment is becoming more complex due to competition, continuous technological advancements and changing in customer’s behaviours. As a result of these changes, business organizations have realized the significance of integrating risk management into their strategies. The research reviewed many Enterprice Risk Management (ERM) frameworks such as Casuality Actuarial Sociaty Framework (CAS, 2003), Committee of Sponsoring Organization (COSO, 2004), Assets Supervision and Administration Commission (SASAC,2006), Committee of Sponsoring Organization (COSO,2017), The International Risk Management Standard (2009) Framework, Global Association of Risk Professional (GARP.2017) Framework, International Risk Management Standard (ISO, 31 000:2018) Framework, Control Objectives for Information and related Technology (COBIT 5 :2018) Framework, Integrated ERM Practice Framework (2017) e.t.c to help practitioners to select the best risk management framework comparing the strength and weakness of their entities. The review reveal that the existing frameworks are little integrated with the corporate control systems, including strategic planning and management control.

Keywords :
CAS, COSO, ISO 31 000, Enterprise Risk Management.

Publication Details:

Unique Identification Number : IJTSRD100167

Published In : Volume-10 | Issue-1, February 2026

Page Number(s) : 1214-1221

Publisher Name : IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470

Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

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