The 2004 COSO ERM Report differs from the 2017 COSO ERM Report, in that the former adopted a components- and principles-based approach to risk management.

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The 2004 COSO ERM Report introduced a components-based approach to risk management, while the 2017 update expanded on this by integrating a principles-based approach and emphasizing the importance of integrating risk management with strategy and performance.

The 2004 COSO ERM Report Differs from the 2017 COSO