You may be shocked to learn that I have finally read something published by and related to COSO which is worth your time to read. (If you’re familiar with Riskczar’s Blog, you would know that I rag on the COSO…
KPMG: 10 Common ERM Challenges
Risk Management magazine just published an article by Jim Negus (of KPMG LLP’s risk and compliance services group) listing their top ten ERM challenges. They write: Very few organizations find enterprise risk management implementation easy–it requires a rare combination of…
Nason wants to know why there are few successful ERM examples
I would like everyone who follows the Riskczar blog to have a look at the latest post from Rick Nason, Partner at RSD Solutions. Dr. Nason also teaches a course on ERM at Dalhousie University in Halifax. Dr. Nason has…
Half-risk management is not risk management
Many organizations think that they can pick and choose which parts of an ERM framework to use and call what they do “risk management”. I say that identifying a few risks and performing some assessments is not risk management: this…
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…
Case study – ERM at Hydro One
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…
H. Felix Kloman – COSO ERM vs ANZ 4360 Deathmatch
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…
PwC – ERM for educational institutions
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…
COSO writes about Effective Enterprise Risk Oversight
With the Yankees-Jays game on in the background, I just took a look at the COSO document on the role of the board of directors. Here are the highlights so you don’t have to read it: As a result of…
KISS ERM
While I am excited about the recent tour announcement by the band KISS, this k.i.s.s. stands for “keep it simple stupid”. When implementing an ERM program keeping it simple is the goal, while avoiding unnecessary complexity. So while the band…