COSO ERM stands for the Committee of Sponsoring Organizations of the Treadway Commission's Enterprise Risk Management framework. It provides organizations with a structured approach to identifying, assessing, and managing risks that could impact their objectives. The framework emphasizes the importance of integrating risk management into the organization's overall strategy and decision-making processes. The COSO ERM framework consists of several components, including risk governance, risk assessment, and risk response. By implementing these components, organizations can enhance their ability to achieve goals, improve performance, and ensure compliance with regulations. This proactive approach helps organizations navigate uncertainties and seize opportunities effectively.