risk appetite statements

By Norman D. Marks, CPA, CRMA | 4 Minutes Read January 19, 2022

A tale of two (risk) cities

Let me tell you a story because it is the time of year for fables. A Scottish company (Dundee Ltd) is growing rapidly after only a couple of years in existence and needs to find a supplier that has the capacity to scale up to meet increasing demand.

By Norman D. Marks, CPA, CRMA | 3 Minutes Read October 21, 2019

Do risk appetite statements add value?

Whilst the majority of firms had risk appetite statements that were set by the Board and which were supported by relevant metrics, 50% of respondents noted that their risk appetite statements did not link to the firm’s strategy or to the actual underlying risk the firm faced, and did not provide a forward looking view of risk.

By Norman D. Marks, CPA, CRMA | 2 Minutes Read December 6, 2017

COSO ERM explains the flaw in risk appetite statements

Devotion to remaining within risk appetite (if you can even express one that will proactively guide decision-makers) is likely to make you risk averse – and focusing on avoiding harm is the path to avoiding success.

A tale of two (risk) cities

Do risk appetite statements add value?

COSO ERM explains the flaw in risk appetite statements

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