Risk Roundup – June 2017
The Global Risks Report 2017 features perspectives from nearly 750 experts on the perceived impact and likelihood of 30 prevalent global risks, as well as 13 underlying trends that could amplify them or alter the interconnections between them over a 10-year timeframe. This interactive interconnections map allows you to see how global risks are interconnected simply by clicking on any individual risk. Explore map
How should an organization balance its brand and reputation against the strategic risks that may be required to achieve its growth targets? Senior executives and boards are sharpening their focus on managing risk, both from the upside, such as innovations that turn business models on their heads, and the downside, including conduct issues, cyberthreats and third-party risks. Read more
In this article, Forbes magazine speaks to Tiffany Felix, a senior executive specializing in risk management, environmental health and safety (EHS), corporate social responsibility, business continuity and global crisis management. The interview focuses on the relationship between enterprise risk management and good EHS practices. Read more
All companies, regardless of size, face risks, from cyber risk to natural disaster preparedness to supply chain disruption. When risk is inevitable, a company’s response to it becomes critical. In this article, Forbes magazine speaks with the CFO of FM Global, to discuss the company’s latest Resilience Index, technology’s impact on businesses, and how the company fosters resilience within their own office. Read more
Risk impacts everyone. It’s not limited to any one industry or size company. And the value that ERM can provide should not be overlooked. In this environment of unprecedented risk, ERM is imperative. If companies want to create and maximize value for their shareholders and stakeholders, they must approach and evaluate risk in a very systematic way. Read more
Global regulatory trends and the associated reputational pressures focused on supply chain transparency and responsible sourcing have mounted in recent years. Companies face an expanding litany of compliance requirements and customer-driven obligations. Many companies could benefit from taking a step back and evaluating a centralized and holistic approach to supply chain regulatory management. Read more
In many organizations, internal audit lacks the influence, skills and tools needed to develop critical forward-looking capabilities, such as anticipating risk and implementing responses, skills that management and boards expect. To avoid becoming irrelevant, internal audit needs to evolve into a more future-oriented and dynamic function, according to findings from a global study. Read more
How we say things can make a difference. A well-written audit report should be a call to action, but a poorly written report can result in inappropriate action or in no action. Little things can mean a lot, and at times, a minor change to how a recommendation is worded can make all the difference in how suggestions are received. This article lists the top 10 things not to say in an audit report. Read more
Is outsourcing internal audit a viable option? When an organization seeks to fully outsource internal audit, it is vital for management and the board to understand their responsibility to ensure that service is of the highest quality and serves the best interests of the organization. Read more
Until fairly recently, the options we had for automating compliance functions and testing were not smart. But that’s not the case anymore. At a conference where the audience was polled, nearly one third of the people in the room were using some kind of automated reasoning and testing in their compliance programs. But that meant that two-thirds of them were not, due to a number of challenges. Read more
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