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Risk Management & Internal Control
Proper risk management and internal control help organizations understand the risks they are exposed to, put controls in place to counter threats, and effectively pursue their objectives. They are therefore an important aspect of an organization’s governance, management, and operations. Professional accountants can and should play a leading role in helping their organizations achieve an integrated, organization-wide approach to risk management and internal control—which ultimately helps create, enhance, and protect stakeholder value. Read More
The ICAEW provides an online collection of books, articles, guides and links on risk management.
This comprehensive range of tools, reports, and best practices in risk and innovation provides finance professionals with guidance on meeting the balance between risk management and innovation.
This article stresses that a mapping exercise is one of the most important activities for any organization implementing the updated 2013 internal control framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO).
FSB Principles for an Effective Risk Appetite Framework
November 18, 2013 - Financial Stability Board
This guidance sets out key elements for: (i) an effective risk appetite framework, (ii) an effective risk appetite statement, (iii) risk limits, and (iv) defining the roles and responsibilities of the board of directors and senior management.
Focuses on cyber security issues relevant to business managers as highlighted by external auditors.
Discusses the three outcomes of NBA's most recent reserach, included in its Knowledge Sharing Program, inlcuding that risk management systems without sufficient attention paid to human factors will fail, people and behaviors make or break risk management even in companies that pay more attention to hard controls, and the risk paragraph in annual reports is often not perceived as meaningful.
September 18, 2014 - ICC Commercial Crime Services
September 16, 2014 - UK Department of Business, Innovation, and Skills
August 27, 2014 - Journal of Accountancy
August 22, 2014 - Compliance Week
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