Alex Sidorenko from RISK-ACADEMY talks about which standard is better for non-financial companies, the new COSO ERM or the new ISO31000.

According to Alex from the Risk Academy, both ISO 31000 and COSO ERM should be read by risk practitioners to investigate if there is anything useful in either of the documents. He also mentions that there is nothing fundamentally new in either of the documents, but they can be used as a marketing piece to sell risk management concepts to decision makers and executives. Additionally, he suggests that the concepts proposed in these standards have been discussed and implemented in the risk management profession for years, and some countries are already light years ahead in terms of maturity of risk management.

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