Enterprise Risk Management Initiative, Poole College of Management, North Carolina State University

Providing Thought Leadership, Education and Training on the Subjects of Enterprise Risk Management

Risk Management & Audit Committees Articles

  • Report on the Current State of Enterprise Risk Oversight: 2nd Edition

    This second edition report from the ERM Initiative at NC State University and the AICPA provides insight on how boards and senior management teams are responding the challenges of risk…

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  • The Six Mistakes Executives Make in Risk Management

    This article in the October 2009 issue of Harvard Business Review outlines six key mistakes that are often made in risk management. It was written by three experienced risk professionals:…

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  • Risk Governance: Balancing Risk and Reward

    In October 2009, the National Association of Corporate Directors (NACD) issued a Blue Ribbon Commission report containing guidance for board members regarding how to strengthen their risk oversight practices. The…

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  • Key Concerns of Boards

    The trend towards greater scrutiny over boards of directors continues and some argue that proposed changes to board governance could dramatically reshape the corporate landscape. As one of the world’s…

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  • Integrating Risks and Strategies to Foster Stakeholder Value Growth

    Every strategy that an organization undertakes in order to grow stakeholder value has risks and opportunities associated with it. There can be opportunity encompassed in a strategic plan that will…

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  • Corporate Governance Update:  Boards Play a Leading Role in Risk Management Oversight

    The topic of risk management has become increasingly popular in corporate governance as a result of the financial meltdown and credit crisis. An organization’s risk culture, awareness and appetite should…

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  • Risk Intelligent Governance: A Practical Guide for Boards

    A recent whitepaper issued by Deloitte LLP provides practical guidance for boards of directors to follow when enabling and executing “risk intelligent” governance. This whitepaper provides approaches to create value…

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  • A New Landscape for Risk Management and Oversight

    In response to the current economic crisis, company boards and audit committees are looking for ways to improve their approach to risk oversight. Risk management perspectives are becoming more focused…

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  • Internal Audit and Risk Oversight

    The Institute of Internal Auditors recently issued two new practice advisories related to risk management. The first practice advisory, titled “Using the Risk Management Process in Internal Audit Planning”, deals with coordinating internal audit activity with risk management. The second practice advisory, titled “Assurance Maps”, centers on identifying and addressing any gaps in the risk management process.

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  • Walker Review on Corporate Governance in the UK Banking Industry

    Governance failures contributed materially to the excessive risk taking leading to the financial crisis, and improved governance is key to decreasing the chance of these events recurring. The Walker Review…

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  • Shifting of Internal Audit Strategy and Focus

    Findings from a survey and roundtable of internal audit executives, service providers, and regulators show that internal audit is changing its risk priorities and audit coverage in response to changing stakeholder expectations in the current economic crisis. Internal audit is taking on a more strategic role in the organization and focusing more on ERM processes and recession-related risks.

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  • How Risk Management Is Changing in Response to the Economic Crisis

    The economic crisis is changing the risk management landscape in various ways. The government bailouts enacted in response to the economic crisis will have many effects, with the greatest potential…

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  • Getting Executive Compensation Right

    Executive compensation systems are often criticized for rewarding the wrong things, ignoring shareholder objections, focusing on short-term results, and being too opaque. Finding the appropriate level and type of compensation is an important first step to improving effectiveness of pay packages. There are also several actions that boards and shareholders can take in working towards improved executive compensation systems.

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  • 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…

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  • 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…

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  • 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…

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  • 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…

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  • 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,…

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  • 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…

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  • 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 in…

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