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Inside Internal Controls

News and discussion on implementing risk management

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risk levels

An ERM horror story

Does it make sense to aggregate risk levels for a variety of risk sources, including cyber, compliance, credit, liquidity, competitor, and internal control over financial reporting?

 

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Should we take this risk?

Who takes risk? The correct answer is ‘everybody’; everybody who makes a decision and everybody who acts. Every decision and action creates or modifies risk and has the potential to influence the achievement of objectives. Whether it is deciding to go through with an acquisition or to hire this candidate instead of an alternative, risk is being taken.

 

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