Please Provide Comments on the IIA Standards

Posted on Feb 20, 2010

The IIA has asked for input on the International Standards for the Professional Practice of Internal Auditing (Standards). You can access information here. I strongly support this initiative and ask that you provide your comments. 
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King III: A Great Step for Corporate Governance?

Posted on Feb 19, 2010

Last year, the Institute of Directors in South Africa published the King Code of Governance for South Africa 2009 (King III). It is effective July 1, 2010. In my opinion, it was one of the most important advances in corporate governance in years. I am pleased that one of the contributors was IIA–South Africa.

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What Is the Best Framework for Governance?

Posted on Feb 15, 2010

A reader asked me for a source of guidance on best governance practices, which she wanted for her U.S. company. Before I discuss how I answered, it is worth considering the plethora of frameworks and guidance.

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Food for Thought on Risk Appetite

Posted on Feb 2, 2010

A friend of mine, Richard Anderson, has released a new paper on the topic of risk appetite. Richard is an expert on risk management, especially compared to me. True, I have implemented risk management at one company, run it at another, and assessed risks for management for many years as chief audit executive. But Richard not only has greater experience and insight but has been involved in major risk thought leadership for a long time. For example, he quotes from the BS31100 standard, which he developed, as defining risk appetite as the “amount and type of risk that an organization is prepared to seek, accept, or tolerate.”

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Another Source of Information on Governance, Risk Management, and Internal Auditing

Posted on Feb 1, 2010

I appreciate the number of people who have taken the time to visit and read my comments on governance. Quite a few have gone to the next level and shared their insights and perspectives with the community, enriching the discussion.

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