Risk management standards expert Kevin Knight says ISO 31000 is “a more concise, clear and flexible set of guidelines developed for risk management.” He also indicates that it will be more helpful in “supporting corporate governance for risk management among…
Happy Thanksgiving – have a turkey
It’s Thanksgiving in the US, a day traditionally spent with family and marked by the enjoying of a turkey. Well, since the release of ISO 31000 last week, it is pretty clear that COSO ERM framework is the biggest turkey…
More glowing reviews of ISO 31000
Bruce McCuaig, VP of risk and compliance at Paisley is very excited about ISO 31000 Risk Management – Principles and Guidelines. He writes “This is 24 pages every assurance professional must read.” To read his complete review, visit his blog…
COSO ERM book is like an 8-Track player
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…
Tim Leech raves about ISO 31000
I just found some cash in the pocket of my winter coat which I was planning on spending on a Slap Chop™ and a Mike Cammalleri jersey but I decided it would be better spent on my very own copy…
I’ll review ISO 31000 if you send me a copy
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…
COSOmosis
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…
Hello. This is MARTA.
In part two of my shout out to Antony Marcano’s blog, he uses the acronym MARTA to describe the five different forms of risk treatment: mitigate, avoid, reduce, transfer and accept. The complete post can be found here http://www.testingreflections.com/node/view/8321 Of…
ISO 31000 is the “New Age in Risk Management”
Courtesy of Reuters http://www.reuters.com/article/pressRelease/idUS246464+28-Oct-2009+BW20091028 From October 2009 corporations of different sizes and industries will be faced with a new universal standard focused on Risk Management. Dubbed ISO 31000: Principles and guidelines for risk management; the new guidelines were developed by…
Apparently the FDIC thinks ERM is a good idea
An interesting article titled “Regulators Tighten Screws on Enterprise Risk Management at Banks” in FinCriAdvisor this weekend, discusses how FDIC thinks ERM would be a great idea ERM at some small banks. Apparently, not only do some banks not practice…