New COSO Updated ERM Framework – Coming Soon – End of June, Perhaps – Could Be Very Important

Just a heads up, a source has suggested that the new long-anticipated COSO (Committee of Sponsoring Organizations of the Treadway Commission) ERM update might finally be out at the end of June. COSO is spending a very long time (since October 2014) preparing and vetting this “update” of the 2004 Enterprise Risk Management — Integrated Framework. COSO’s sponsoring organizations are the American Accounting Association (AAA), the American Institute of Certified Public Accountants (AICPA), Financial Executives International (FEI), The Institute of Internal Auditors (IIA), and the National Association of Accountants (now the Institute of Management Accountants [IMA]), and the Commission includes representatives from industry, public accounting, investment firms, and SROs (exchanges).

We’ll have to wait and see what we get with this “update,” which will either simply be a relatively unimpressive or vague tweak, or a useful, modernized, sufficiently detailed guide which might become the standard to achieve, or somewhere in between. I’m hopeful for the useful version – ERM needs a big boost – this “update” is important. I find that there really are only three ways to provide this type of boost: sponsorship and push by large or influential organizations and people, mandatory (i.e., by law, regulation or rule) adoption, or, sometimes, push and expectancy by the public.

Here is the link to the COSO website

Best to you, David Tate, Esq., Litigation, D&O, audit committees, etc., Royse Law Firm

Royse Law Firm/David Tate – Legal Updates in Litigation, Liability, Governance & Risk Management (March 10)

Below I have provided a link to the Royse Law Firm Legal Updates in Litigation, Liability, Governance & Risk Management, of which I am the Editor. The Update is litigation and dispute targeted, primarily covering business, IP, employer and employee, D&O, founder/owner/shareholder/investor, M&A, and trust and estate litigation and disputes, and also including governance, administrations, and risk management. The Updates include the Firm’s attorney written articles and updates, videos and presentations, and also from time to time select resources by other outside third parties with comments added.

My practice continues in civil and trust and estate litigation and disputes and administrations, and other related areas. The Royse Law Firm offers very experienced, appropriately priced corporate, IP, employment, D&O, M&A, founder/owner/shareholder/investor, estate planning and litigation legal services and representation for established and new businesses, and people, in Northern and Southern California. Please contact me if you or other people who you know have legal needs. You can contact me at (650) 813-9700, extension 233. The Firm’s website is

Click on the following link to Legal Updates in Litigation: Royse Legal Updates in Litigation, Liability, Governance & Risk Management (March 10, 2017)

Attend This – Navigating the D&O Risk Landscape: 2017 Silicon Valley Update – January 17, 2017 – Palo Alto

With the Palo Alto Area Bar Association I have helped to set up this January 17, 2017, lunchtime presentation, Navigating the D&O Risk Landscape: 2017 Silicon Valley Update. The presentation will be at the law firm Wilson Sonsini in Palo Alto. I’m not speaking, but the speakers are excellent and very, very experienced with D&O insurance needs, coverage and litigation. If you or someone you know is involved or interested in D&O insurance needs, this is a great presentation. I have known Priya for years, and she writes an excellent D&O blog.

Below I have provided some additional information about the speakers, and here is a link to register to attend (!event/2017/1/17/navigating-the-d-o-risk-landscape-2017-silicon-valley-update). And here is a link for the Palo Alto Area Bar Association (, click on “Events” if the above direct presentation link does not work).

Here are the speakers:

Navigating the D&O Risk Landscape: 2017 Silicon Valley Update: Discussion of public and private company exposures and actionable best practices for those exposure.

Priya Cherian Huskins, Esq.
Senior Vice President, D&O, Woodruff Sawyer & Co.

Vysali Soundararajan
Senior Claims Consultant, Claims Audit & Consulting Practice, Woodruff Sawyer & Co.

Best to you, and wishing you a great 2017.
Dave Tate, Esq., San Francisco and California.

Trade Secrets And How To Protect Them – Royse Law Firm Webinar – Very Important For Every Business

Below is a link to a detailed and very useful webinar from my friends at the Royse Law Firm discussing trade secrets and how to protect them – this is a very important topic for every business and entity. Click on the following link for the discussion:

Forwarding a worthwhile paper discussing objective based risk management

I am forwarding a link to a short article by Tim Leech and Lauren Hanlon discussing, as they say, Paradigm paralysis in ERM & internal audit. I am providing you with this article because of the discussion between risk management that first and primarily identifies risk, and one that first starts with the objectives of the enterprise, and then follows with the risks to those objectives.

You might also be aware that soon, perhaps next month in September, COSO will be making available its eagerly awaited ERM update, which could be an important development.

Below is the link to the Leech/Hanlon paper (I do also note that they lost me a little with the sample summary report on the second page of the paper – I prefer reports that very easily speak for themselves – but I have found that sometimes professionals with Tim’s experience tend to write in a manner that is not always the most easy or simple to understand). This is a worthwhile paper – please read it.  Dave Tate, Esq., San Francisco and California.