Corporate Compliance Report University of Phoenix MBA 560 January 22, 2008 In order for any company or enterprise to be successful, it is important that the management team take steps to identify, assess and manage risk. For many businesses, risk management has been identified as a way to prevent and minimize losses, as well as improve business performance. A huge array of new tools has been introduced over the past few years to help gauge enterprise risk. The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has also played a major role in helping companies manage risk. COSO was formed in 1985 and is a U.S. private sector initiative whose major goal is to identify the different factors that lead to fraudulent activities such as fraudulent financial reporting and make recommendations to reduce the incidences. COSO established a variety of internal controls and criteria that companies and organizations can use to assess their control systems in order to manage risk. �In 2001, COSO initiated a project, and engaged Pricewaterh......

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