COSO Enterprise Risk Management (ERM) Framework (2017)
Review and Revision – COSO Enterprise Risk Management (ERM) Framework (2017)

COSO Enterprise Risk Management (ERM) Framework (2017) P15: Principle 15: Assesses Substantial Change

Changes that could materially alter strategy and business objectives are identified and assessed. Beyond the changes anticipated in strategy-setting, larger substantial changes in the internal environment (rapid growth, changes in leadership, new technology, restructuring, new business models) and the external environment (regulatory or economic shifts, competition, natural events, changing stakeholder expectations) can create new or changed risks and undermine the assumptions behind the strategy; the organization integrates the identification and assessment of such change into its business practices so that strategy, objectives and enterprise risk management practices are revisited when it occurs.

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