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 [...]
Posts Tagged ‘COSO ERM’
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 »
Internal auditors get my goat
Posted in My Opinions, tagged audit, COSO ERM, Enron, goat, Sarbanes-Oxley on November 19, 2009 | Leave a Comment »
Here’s one of those articles that would get my goat if I owned a goat. It’s the typical rah-rah article about how wonderful ERM is and everyone should be doing it. (I am always a proponent of those.) But the fact that it was published at a site called WebCPA should have tipped me off [...]
COSOmosis
Posted in Frameworks, My Opinions, tagged COSO ERM, osmosis on November 7, 2009 | Leave a Comment »
Every time COSO releases a white paper or some thought leadership on ERM, I make a fresh pot of coffee, grab a large bag of M&Ms from Wal-Mart then sit down to read it. COSO just released new document called Strengthening Enterprise Risk Management for Strategic Advantage, “that highlights specific areas where senior management can [...]
Risk managers are like janitors
Posted in ERM Basics, Humour, My Opinions, tagged Black Swan, COSO ERM, ERM, ISO 31000, janitor, Maureen Miskovic, Oswald Grübel, risk culture, risk management, risk manager, UBS on October 21, 2009 | 1 Comment »
This is a bit of a re-post but it seems appropriate following a comment I received earlier where the reader asks: “How can you convince a small business owner to invest resources into something that they cannot see a value in?” For years I have been saying that being a risk manager is like being [...]
ERM survey by Journal of Accountacy
Posted in ERM Basics, Thought Leadership, tagged COSO ERM, ERM, Journal of Accountancy, Trevor Levine on September 22, 2009 | 2 Comments »
The results of a recent survey appear in the Journal of Accountancy. Normally you wouldn’t find me reading anything of the sort but it was titled “ERM: Opportunities for Improvement” so how could I resist? Their survey supports quantitatively what many unemployed risk practitioners already know and what an EVP once said to me, “Trevor, [...]
What to get a risk manager for Christmas
Posted in Frameworks, Humour, tagged 31000, COSO ERM, PwC ERM, Trevor Levine on September 21, 2009 | 1 Comment »
This Christmas season, when you don’t know what to get the one you love because they already have a Nintendo Wii, iPod Touch or Beatles Rock Band, why not give them the gift of voluntary risk management guidelines, the ISO 31000 Risk Management – Principles and Guidelines. Imagine the joy Christmas morning when your loved [...]
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 [...]
Case study – ERM at Hydro One
Posted in ERM Basics, Frameworks, Thought Leadership, tagged วิเคราะห์เคส hydro one, COSO ERM, ERM, Framework, Harvard Business School, Hydro One, PwC ERM, risk, SOX on September 10, 2009 | 6 Comments »
If I got together with all the other enterprise risk management practitioners and thought leaders, and spend a day filling in an Ishikawa diagram looking for root causes for why ERM has not achieved rock star status (or at the very least SOX status), we would be remiss if we did not identify: “There just [...]
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 [...]
PwC – ERM for educational institutions
Posted in ERM Basics, Frameworks, Thought Leadership, tagged COSO ERM, Framework, PwC ERM, Riskczar, universities on September 8, 2009 | 2 Comments »
Earlier today, I wrote about how ERM works for all organizations, including educational institutions. If you are interested in more on that topic, have a look at the attachment. I picked it up a few years ago when I worked at PricewaterhouseCoopers in Toronto. Ironically, I cannot seem to find a link to this file [...]
