Assurance and Advisory Services

Risk Assurance and Advisory Services

The Risk Assurance Task Force's goal is to position the CPA profession as the leader on enterprise risk management. The task force will consider the myriad of risk frameworks and processes which exist domestically and internationally and will recommend guidance that can be used to evaluate and provide assurance on enterprise risk management processes, or elements thereof. The task force will develop guidance for assurance that evaluates an organizations enterprise risk management processes to supplement Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) Enterprise Risk Management-Integrated Framework. It will also consider appropriate forms of reporting and audiences, while continually monitoring evolving marketplace needs.

Mission

In keeping with its mission to assure the quality, relevance and usefulness of information or its context for decision makers and other users by 1) identifying and prioritizing emerging trends and market needs for assurance, and 2) developing related assurance methodology guidance and tools as needed the AICPA Assurance Services Executive Committee (ASEC) will establish an ASEC Risk Assurance & Advisory Services Task Force. The task force will consider the myriad of risk frameworks and processes which exist domestically and internationally and will recommend guidance that can be used to evaluate and provide assurance on enterprise risk management processes, or elements thereof.

Objectives

To position the CPA profession as the leader on enterprise risk management, the task force will:

(1) Collaborate with AICPA teams (e.g. BIG) to develop a web-based enterprise risk management (ERM) resource center

(2) Develop guidance for assurance that evaluates an organizations enterprise risk management processes to supplement Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) Enterprise Risk Management-Integrated Framework by:

reviewing existing frameworks, standards and regulations, both domestically and internationally, to identify common themes and specific differences; and
identifying best practices and processes in implementing on-going enterprise risk management within organizations

(3) Consider appropriate forms of reporting and audiences

(4) Monitor evolving marketplace needs

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