Enterprise Risk Management is not just about managing risk
At first glance, Enterprise Risk Management (ERM) is just Risk Management (RM) with an ”E” but there is so much more to ERM than just managing the risks which beset any organisation. RM is good but it tends to be localised, and concentrates on losses, the costs that are incurred and
ERM & Surviving the Pandemic: Where Do We Go From Here?
In the past four months, practically every daily headline has been dominated by the devastation, death, despair and disruption wrought by the Covid-19 Pandemic. Countries have scrambled not only to identify and treat those infected but protect their economies from the fallout of widespread and very necessary quarantine measures. It has
What role does the Board play in Fraud Risk Management strategy?
The role of the Board in managing an organisation’s fraud risk is a major one. There are already rules, regulations, procedures and processes that are mandatory when it comes to addressing fraud, and the Board has to ensure that all of them are adhered to. But what about managing fraud
The competency required to form an empowered board risk committee
What does it take to get a Board Risk Committee that is really effective? The first step – establishing it – has already (hopefully!) been taken. This underscores the organisation’s commitment to doing things right from the risk management perspective. It also demonstrates the organisation’s understanding of how risk management affects
Enterprise Risk Management is not about Risk Management
As obvious as it may appear, it’s the word “Enterprise” that makes all the difference. Experts and analysts have various definitions of Risk Management (RM) but the most widely-accepted one describes it as a bottom-up process that focuses primarily on losses, costs and the negative side of risk; heavy on
The Role of Boards in Fraud Risk Management
All organisations experience fraud in some form or other, and while damage has been mitigated or minimised in many cases, there have been instances which have begged the question of what the Board was doing, for such an incident to have happened. But what exactly does a Board do, when
Enterprise Risk Management and Covid-19: It isn’t Where, When or Why, it’s How we’ll get through this
If anyone had doubts about what a pandemic would look like, those doubts have been completely demolished in the past few months. Covid-19, the novel Coronavirus, has swept through the world like the proverbial Angel of Death, striking down high and low indiscriminately, decimating populations literally by the hundreds of
Digitisation: Is It Worth It?
In the rush to keep up with the competition, it is inevitable that the focus will be on setting up systems, training personnel, and ensuring everyone is up to speed with the latest software. But very often, not enough attention is paid to managing the risks which are inherent in
Cybersecurity: New Risks in the New Normal?
It has taken a pandemic to show organisations where the gaps in their risk management systems are. With Covid-19 has come fear and anxiety, uncertainty and disruption the likes of which has never been experienced since World War II. When lockdowns were instituted across various countries, working from home (WFH)