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
Keeping up with the evolving expectations for Boards
A directorship used to be a reward, a thank-you for years of service, and a sign that the difficult years of toil and trouble were over. But the opposite is now the case; it is not easy being a Member of the Board these days. The Boardroom is no place
What Do You Expect Us To Do in Times of Crisis?
There is no shortage of examples of what to do when a crisis hits. From stepping up to the plate and taking responsibility for a major product recall, to some spectacular instances of what not to do when your company is grappling with a major oil spill, there are any
Is Enterprise Governance a board or management issue?
While quite a substantial amount is known about Enterprise Risk Management (ERM), significantly less is known about Enterprise Governance (EG) – perhaps because EG is a much later construct in the corporate management pantheon. It also explains why little is known or realised about what EG can do for organisations.
How internal auditors can boost their enterprise risk management mastery?
There are many reasons why internal auditors should learn about Enterprise Risk Management. In fact, auditors and ERM are a good fit in so many ways. Firstly, auditors are trained to deep-dive into details, and ERM is nothing if not deep-diving and managing details so that the organisation overcomes the
Increasing need for CyberSecurity awareness in companies
Technology is truly a double-edged sword. You can’t live without it in today’s business environment but living with it invariably entails coming to grips with all its attendant risks – and there are many! Imagine how liberating it would be, if technology was allowed free reign in support of business
What do Tetris and Risk Management have in common?
Does the addictive game of Tetris have anything in common with risk management? Surprisingly, yes. Created in the mid-1980s, the game of “falling bricks” originated in Russia but spread globally through Nintendo’s 1989 version of its Game Boy. Nintendo’s inventor, Alexey Pajitnov believes that Tetris fulfils the need to create
Why bother with Enterprise Risk Management?
Even the experts say that no organisations can operate totally without risk; they also agree that putting risk mitigative measures in place can be an expensive exercise. On top of that, not all measures work, regardless of the effort that has been put into them. So, to all intents and
Factors to consider for successful ERM implementation
There are many reasons why companies “sign on” for ERM. One reason may hinge on compliance; they need to show industry regulators that they are indeed doing what they are constrained to do by law. Financial institutions and insurance companies, for instance, are required by the central Bank or other