Some respondents called for further integration of enterprise risk management concepts into internal control, in particular seeking an expanded discussion of risk tolerance and adding risk appetite. Some also sought a merger of COSO's ERM Framework with the Framework. Others supported keeping the two frameworks separate and distinct.

The COSO Board considered merging the two frameworks and decided to keep them separate and distinct. Accordingly, strategy-setting, strategic objectives, and risk appetite remain part of the ERM Framework. The Framework retains the definition of risk appetite and the application of risk tolerance and retains strategy-setting as a precondition of internal control.

The Framework expands the Foreword to acknowledge that the two frameworks are intended to be complementary, neither superseding the other. The Framework includes a discussion of overlapping concepts in Appendix G.