First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

addressing risks

The worst audit report I have seen

I have seen a few candidates for this title, but one stands out. This is how I described it in my best-selling book, World-Class Internal Audit: Tales from my Journey:


, , , , ,

Identifying, assessing, and evaluating risk is the easy part

COSO ERM 2017 talks about strategy selection, which is a very important decision, and how you need to assess each option. The selection process includes understanding what might happen under each option (risks and opportunities in their language), weighing all the pros and cons, and then choosing the one that makes the most business sense.


, , , , , , ,

The future of risk management

The Institute of Risk Management has a great feature where they have asked people around the world, including a number of luminaries, about the future of risk management.


, , , ,

Managing risk means opening your eyes every day

On the surface, it is good news that the majority of Canadian CFOs are confident in their management of risk and believe that employees understand the risks to the organization. 72% feel that their strategy is aligned with their risk appetite. But, do the authors of the study understand what effective risk management entails?


, , , , , , ,