Certified Supply Chain Professional (CSCP) Practice Exam

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Prepare for the Certified Supply Chain Professional Exam with a comprehensive quiz featuring multiple choice questions and essential study material. Gain the knowledge and confidence needed to excel in your certification journey!

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What does COSO ERM stand for?

Committee of Operations for Strategic Oversight in Enterprise Risk Management
Committee of Sponsoring Organizations of the Treadway Commission
Central Organizational System for Enterprise Review Management
Coalition of Standards for Organizational Risk Management

The correct answer is: Committee of Sponsoring Organizations of the Treadway Commission

The correct answer refers to the Committee of Sponsoring Organizations of the Treadway Commission, commonly abbreviated as COSO. This organization plays a critical role in the development of frameworks and guidance on enterprise risk management. Established in the United States in 1985, COSO aims to improve the quality of financial reporting through effective internal controls. In the context of enterprise risk management (ERM), COSO has published several influential frameworks that help organizations identify risks, manage them effectively, and ensure compliance with regulations. The frameworks provided by COSO have become widely recognized and adopted across various industries for their comprehensive approach to integrating risk management into the overall governance structure of organizations. The other options presented do not accurately reflect the established definition associated with COSO. For instance, the idea of “Committee of Operations for Strategic Oversight” or “Central Organizational System for Enterprise Review Management” does not align with recognized risk management terminology. Furthermore, "Coalition of Standards for Organizational Risk Management" does not exist and fails to capture the foundational role of the Treadway Commission in the establishment of COSO itself.