June 1, 2009 Internal Audit’s Role in Managing Reputation Risk Reputational risks and corporate missteps are having more significant impacts on bottom lines and stakeholder perceptions of companies than ever before. Therefore, companies are recognizing the importance of reputational risk...
June 1, 2009 Culture of Candor Performance of leaders is increasingly being measured based on the extent to which they create economically, ethically, and socially sustainable organizations. Increased transparency is an important step for leaders making...
June 1, 2009 Risk Preparedness Risk intelligence is a risk management philosophy focusing on the use of both risk avoidance and risk-taking to create value. While this article deals with risk intelligence, it focuses on...
June 1, 2009 Balancing Enterprise Risk Management and Enterprise Performance Management Poorly planned and executed risk management capabilities contributed to the collapse, and they are likewise impeding the recovery as companies have shifted from taking too many risks to taking too...
May 31, 2009 Reputation Management Reputation management is critical to organizations and it continues to grow more complicated. Companies in the past could earn reputations as good corporate citizens by making philanthropic contributions without significant...
May 1, 2009 Seven Question Guide to Assessing Your Enterprise Risk Management Practices Risk professionals should consider seven questions in evaluating risk management tools, improving risk management practices, and assessing the state of ERM in an organization. Professionals should ask these seven questions: (1)...
May 1, 2009 Increasing Oversight by Audit Committees Audit committees are responding to the recent financial crisis by refocusing and increasing their oversight efforts. Committees report a renewed focus on the “basics” of oversight that include better education...
May 1, 2009 Getting Risk Appetite Right While the concept of a risk appetite framework is sound and can provide many benefits to organizations, many of these frameworks failed during the current crisis due to design and...
April 24, 2009 Role of Culture and Judgment in ERM David Fox, the Director of Risk Management at KBR, Inc., based in Houston, Texas, spoke at the April 24, 2009 ERM Roundtable about the rollout of ERM at KBR and its evolving...
April 15, 2009 Importance of Risk Management Mindset Many companies that were unprepared for the current economic situation have become hesitant to make decisions regarding the future. For companies to regain confidence in making these decisions there needs...
April 15, 2009 Risk Culture of Companies Risk culture is an area of risk management that has become a recent focus for many boards. Risk culture is the system of values and behaviors present in an organization...
March 31, 2009 Effects of Economic Crisis on Corporate Governance The economic crisis is impacting the future of corporate governance. With boards being one of the players blamed for the crisis, their roles are shifting and growing in importance, with...
March 20, 2009 NYSE Perspectives on Governance and Risk Management in Today’s Economy Glenn W. Tyranski, the Senior Vice President of Financial Compliance at New York Stock Exchange (NYSE) Regulation, spoke at the March 20, 2009 ERM roundtable about the evolving roles of NYSE Regulation...
March 1, 2009 Six Ways Companies Mismanage Risk Effective risk management is difficult even in the best situations, and failure of risk management can cause large losses within an organization. There are six fundamental mistakes risk managers routinely...
March 1, 2009 Audit Committee Member Survey The 4th Annual Public Company Audit Committee Member Survey was sponsored by KPMG’s Audit Committee Institute and the National Association of Corporate Directors (NACD). Between November 2008 and February 2009, 280 audit...
March 1, 2009 Ten Practical Lessons for Risk Management Recent events have uncovered significant deficiencies in the way risks are managed at financial institutions and many other companies. Research into these deficiencies shows ten practical lessons companies can apply...
March 1, 2009 Key Areas of Concern in Corporate Governance Strong corporate governance is essential for boards as they are positioned to lead the way in implementing measures that contribute to economic growth and sustainability. There are four areas of...
February 27, 2009 S&P Evaluations of ERM as Part of Credit Rating Process Standard & Poor’s announced in 2008 plans to include evaluations of how non-financial companies manage enterprise-wide risks as part of S&P’s credit rating process. Steve Dreyer, Managing Director of...
February 1, 2009 Internal Auditors Partnership with Management Internal auditors in the past have been used to examine how well management is performing and how well the company is operating. Now there is a need for internal auditors...
February 1, 2009 Boards Emphasize Risk Management to Survive Current Economic Crisis KPMG’s Audit Committee Institute hosted a national conference with the goal of discussing the current challenges, practices and priorities facing audit committees and boards. Among the results, the professionals...