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business risk

By Norman D. Marks, CPA, CRMA | 2 Minutes Read May 2, 2018

An idea to help drive effective risk management

We want all decision-makers to consider all the potential consequences of their decision (in fact, all the potential consequences for each option on the table) before making an informed and intelligent judgment. What if the quality of decision-making was a significant factor in assessing performance? Thus affecting compensation and career progression. This idea could help drive effective risk management.

Article by Norman D. Marks, CPA, CRMA / Business, Finance and Accounting, Information Technology, Payroll, Privacy / addressing risks, business risk, decision making, decision-making process, drive effective risk management, enterprise objectives, performance appraisals, risk, risk to objectives

By Norman D. Marks, CPA, CRMA | 2 Minutes Read January 31, 2018

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.

Article by Norman D. Marks, CPA, CRMA / Business, Finance and Accounting, Privacy / addressing risks, business risk, COSO ERM 2017, evaluating risk, ISO 31000: 2009 global risk management standard, risk, risk evaluation, risk management

By Norman D. Marks, CPA, CRMA | 4 Minutes Read December 20, 2017

Can you manage technology risk in today’s environment?

This is a new world and we need to re-examine traditional techniques for addressing technology risk. Before assessing and testing controls, challenge management on whether they believe effective security is in place and why. An internal audit team can help with this.

Article by Norman D. Marks, CPA, CRMA / Information Technology, Privacy / business risk, cybersecurity, information security, internal audit, IT, risk management, technology risk

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