Posts Tagged ‘ SOX ’

Rasmussen: There are very few mature risk management programs

April 22, 2010

Here’s a paragraph Michael Rasmussen, President of Corporate Integrity, published in the Linkedin Enterprise Risk Management Association discussion group, that I thought should be re-posted. The sentiment closely resembles the final paragraph in this recent post by your Riskczar. The fact is that I have encountered very few ERM programs that are ERM. Most are nothing more than an expanded view of SOX. This is unfortunate. I have been working on extensive research this past year on risk culture as well as the relationship of risk to performance management (along with Thomas Davenport, performance management guru of Babson College, and…

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Case study – ERM at Hydro One

September 10, 2009

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 are not enough case studies or success stories about ERM implementations.” I know of only one such case study and have been peddling it for the last few years. When clients asked for something more real than consultant speak or COSO ERM gibberish, I shared…

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Report on the Current State of Enterprise Risk Oversight

September 2, 2009

I was just reading the March 2009 Report on the Current State of Enterprise Risk Oversight conducted by by the Faculty in the ERM Initiative at North Carolina State University. The complete report can be found here: http://mgt.ncsu.edu/erm/documents/AICPAResearchStudy32309.pdf It’s filled with lots of stats and can be summed up by this line from the report: “Despite the growing trends towards adopting a more holistic approach to risk oversight, not all organizations are modifying their procedures for identifying, assessing, managing, and communicating risk information to key stakeholders.” (What are you waiting for!?) Most people would submit that the Enron and WorldCom…

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