Risk-based performance

Those limitations of all internal control systems. The limitations relate to the limits of human judgment; resource constraints and the need to consider the cost of controls in relation to expected benefits; the reality that breakdowns can occur; and the possibility of management override and collusion.

Source : COSO Integrated Internal Controls Framework

Those limitations of enterprise risk management. The limitations relate to the limits of human judgment; resource constraints, and the need to consider the cost of controls in relation to expected benefits; the reality that breakdowns can occur; and the possibility of management override and collusion.

Source : COSO Integrated Risk Management Framework