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Inside Internal Controls

News and discussion on implementing risk management

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financial risk

New guidance for risk committees

A new publication by the Risk Coalition (a group of organizations in the UK that includes their Institute of Directors, a couple of risk management associations, and the organizations for internal and external auditors) merits our attention. Raising the Bar: Principles-based guidance for board risk committees and risk functions in the UK Financial Services Sector has some interesting content. For example, it says:

 

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Mitigating risk with your marketing tactics

Risk can be simply defined as the potential that an activity will lead to an undesirable outcome. Financial risk, put plainly, is the possibility that an investment’s return will be different than expected. The standard method of reducing financial risk is diversification. Mitigating marketing risks is no different; diversification through investment in integrated marketing tactics is crucial.

 

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Implementing electronic payments with an eye towards risk management

As we edge closer and closer to 2013, we’re seeing more people with mobile devices in their pockets. How many people do you know with an iPhone or Android device? The influx of additional devices such as tablets and ultra-thin laptop computers means that more people are online in more places, more often than ever before. This vastly changes the way businesses can choose to sell their products. Enter the implementation of electronic payments.

 

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