Chris McClean, who blogs for Forrester reminds us that ISO 31000 will not be a game-changer nor start a revolution in the immediate future. He agrees with many that organizations will benefit from a “commonly accepted risk vocabulary and a clearly defined process framework for risk management” however the biggest hurdles in risk management do [...]
Posts Tagged ‘4360’
More subdued view of ISO 31000
Posted in ERM Basics, Frameworks, tagged 31000, 4360, Chris McClean, COSO ERM, Forrester on December 3, 2009 | Leave a Comment »
COSO ERM book is like an 8-Track player
Posted in ERM Basics, Frameworks, Humour, My Opinions, tagged 31000, 4360, Cendrowski, COSO ERM, Trevor Levine on November 24, 2009 | 2 Comments »
I have to give my props to Harry Cendrowski and William C. Mair of Cendrowski Corporate Advisors for writing a book about enterprise risk management, but writing one titled “Enterprise Risk Management and COSO: A Guide for Directors, Executives, and Practitioners,” with the word “COSO” right there in the title is troubling to me. The [...]
Internal audit is not risk management even in New Zealand
Posted in My Opinions, tagged 4360, audit, Marsh, New Zealand, risk on November 19, 2009 | 1 Comment »
Keeping with today’s theme “internal auditors are not risk managers”, here’s something I quite enjoyed courtesy of a report from Marsh in New Zealand called The 2008 State Sector Risk Management Practices Report. Page 17 it reads: Internal Auditors play an important role in evaluating the risk management processes of an organisation and advocating their [...]
I’ll review ISO 31000 if you send me a copy
Posted in Frameworks, Humour, tagged 31000, 4360, COSO ERM, Framework, risk on November 19, 2009 | Leave a Comment »
It looks like the long-awaited new International Standard, ISO 31000:2009, Risk management – Principles and guidelines is finally out and can be yours for only CHF 112, or about USD 110 or CAD 116. Here’s the link to the press release http://www.iso.org/iso/pressrelease.htm?refid=Ref1266 I am fresh out of Swissees these days. If anyone has a copy [...]
Marcano rants about the misuse of “mitigate”
Posted in ERM Basics, tagged 4360, Felix Kloman, MARTA, risk treatment on November 2, 2009 | 2 Comments »
I came across a great post by Antony Marcano who rants about the misuse of the word “mitigate”. (For your information, this post is considered great because I agree with it.) You can read his entire post here: http://www.testingreflections.com/node/view/8138 Mr. Marcano, a “lover of language”, dislikes it that mitigate is over used as a risk [...]
From AS/NZS 4360 to ISO 31000 – A history lesson
Posted in ERM Basics, Frameworks, Risk management, Thought Leadership, tagged 31000, 4360, AS/NZS 4360, Australia, ERM, ISO 31000, New Zealand, Trevor Levine on October 23, 2009 | 3 Comments »
A consultant from New Zealand named Chris Peace, traces the history of the AS/NZS 4360 standard and the new ISO 31000, due out just in time for Christmas, in this copy of Safety and Health Practitioner dated October 16, 2009. Although the original 1995 edition of the AS/NZS 4360 standard was developed from earlier risk-management [...]
ERM policy for United Nations agency
Posted in ERM Basics, Frameworks, tagged 4360, COSO ERM, ERM, IFAD, policy on September 14, 2009 | Leave a Comment »
It’s nice to see that an agency of the United Nations, The International Fund for Agricultural Development (www.IFAD.org), has an enterprise risk management policy. This one is pretty straightforward with a good format and definitions. IFAD ERM policy (Riskczar).pdf They claim to be in bed with COSO ERM on this one but I saw traces [...]
H. Felix Kloman – COSO ERM vs ANZ 4360 Deathmatch
Posted in ERM Basics, Frameworks, Thought Leadership, tagged 31000, 4360, COSO ERM, enterprise risk, Felix Kloman, Framework, Norman Marks, PwC ERM, Tim Leech on September 9, 2009 | 2 Comments »
Here’s a 2003 article written by Mr. Kloman where he reviews a draft version (at the time) of 4360 and one of COSO ERM authored by PwC. Although he is not reviewing the final versions, one can still draw similar conclusion. The terms “winner” or “draw” were added by me. Mr Kloman noted: 4360: Model [...]
Risk Management Frameworks are Boring
Posted in ERM Basics, Frameworks, My Opinions, tagged 31000, 4360, COSO, enterprise risk, ERM, Framework on May 5, 2008 | 1 Comment »
There are plenty of frameworks out there on the Internet that you can read or download for free so why not just read one of those? Well, first of all, frameworks are boring; people who write policies for a living even think frameworks are boring. The Riskczar suggest you try to read he two most [...]
