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In my last blog entry, I discussed how a strong partnership between a company’s Chief Risk Officer (“CRO”) and Chief Audit Executive (“CAE”) can be developed and maintained. Once a strong partnership has been formed, the two leaders can then work toward creating a strategy for operating a successful Enterprise Risk Management (“ERM”) program. This [...]
[Read More]Many companies are creating the new role of Chief Risk Officer (CRO) as they seek to evolve their Enterprise Risk Management (ERM) program. These companies recognize the need for a risk champion to sustain an ERM program and provide the necessary executive support to act upon risks that continually surface.
To be effective at sustaining the [...]
COSO has released a new paper titled Effective Enterprise Risk Oversight: The Role of the Board of Directors which is aimed at helping boards of directors strengthen their oversight of enterprise risks. In particular, it points to four specific areas discussed in COSO’s 2004 ERM framework that contribute to board risk oversight:
Understand the entity’s risk philosophy [...]
[Read More]The Institute of Internal Auditors 2009 General Audit Management Conference is coming up and should be quite timely given the evolving role that Audit is playing in providing an independent assessment of enterprise risk and governance. The conference has some intriguiging sessions including:
The Role of Internal Audit and Corporate Governance
IT Risks – Are You Who You Say You Are? [...]
