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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
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.
Attempts to explain more about risk culture in financial organizations, which features so prominently in discussion about financial regulation, at many industry events and on numerous blogs.
How You Can Manage the Risks of a System Implementation
October 2, 2013 - AICPA
This article stresses that in order to better manage the risks of a system implementation, an organization must establish a strong alignment between its strategic goals and IT-related projects. In evaluating new projects, it must consider the business case for each project and prioritize projects according to its strategic goals.
October 8, 2014 - CGMA Magazine
October 7, 2014 - Economia
October 1, 2014 - Journal of Accountancy
September 29, 2014 - Economia
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