Lone Star Integrated Risk Management System (IRIS)

According to the Lone Star website, "Integrated Risk Management System (IRIS) was created to fill a capability gap in the enterprise risk management market. It is built on the COSO framework, which was designed to improve governance on risk management, internal control, and fraud deterrence. Lone Star saw limitations with the existing qualitative “stop light” analysis being delivered, and has implemented the COSO framework along with proven analytical techniques. Lone Star’s approach enables clients to truly quantify risk elements and their associated closure recommendations. This approach enables clients to generate real return on risk (RoR) calculations and effectively prioritize activities. This technology and its techniques can be used in multiple settings ranging from traditional Sarbanes-Oxley support to advanced Cyber risk analysis applications. IRIS tells you how much you are paying for risk mitigation so you can make intelligent decisions on how to manage compliance and risk."