You are head of internal audit unit in your organization and the organization has not been consiste?

You are head of internal audit unit in your organization and the organization has not been consistent or thorough in their risk management approach, which has resulted in non-realization of planned objectives. However, the CEO recognizes the importance of ERM and has tasked you to create a brief overview of ERM and recommendations for establishing an effective ERM program that will be briefed to senior leadership within the organization. Imagine you determine that the COSO guidance will be a good place to start.
You are required to write a paper to present to the senior leadership meeting with considering the following key areas only.
a) Summarize the COSO risk management framework and COSO’s ERM process
b) Recommend to management the approach that they need to take to implement an effective ERM program. Include the issues and organizational impact they might encounter if they do not implement an effective ERM program.