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COSO ERM 2017

By Norman D. Marks, CPA, CRMA | 4 Minutes Read April 25, 2018

Is the goal of risk governance taking boards in the wrong direction?

The board is discharging its responsibilities to ensure stakeholders get the performance they should: value creation as well as (and not just) value protection. The board should make sure the management team is effective in running the organization, and that is not done by focusing on a list of harms. Effective governance of an organization is limited if the board focuses on risks.

Article by Norman D. Marks, CPA, CRMA / Business, Finance and Accounting, Information Technology, Privacy / achievement of objectives, COSO Enterprise Risk Management Framework, COSO ERM 2017, effective management, risk governance, risk management frameworks, risk oversight, risk strategy, 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

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