The State of Risk Management

Posted on Aug 23, 2013

A new survey, Leadership in Risk Management, provides some insights into the state of risk management among European companies. Sponsored by Zurich, FERMA, and PRIMO and published by Harvard Business Review Analytic Services, it shares the results of a survey of 217 companies based in Europe. The results are predictably biased because the feedback is predominantly from risk managers or officers (60%). However, we can look past that as we consider the more interesting findings. 

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Internal Audit Opinions on the Effectiveness of Governance, Risk, and Internal Control

Posted on Aug 17, 2013

The definition of internal auditing from the IIA is:

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

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Are Organizations Too Complex to Govern Effectively

Posted on Aug 12, 2013

When you look at many of the organizational disasters of recent years (such as the Deepwater Horizon explosion, fire, and oil spill that embroiled BP, Halliburton, and Transocean in billions of dollars in cost, even before reputational damage and business disruption), people ask where top management and the board were. 

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A Road Map for an Update of the IIA Professional Standards

Posted on Aug 5, 2013

We have new leadership of the IIA Standards Board. Patty Miller, former Chair of the Board of The IIA and a recently-retired internal audit services partner with Deloitte, took over as chair at the International Conference in July. She is supported by a board that is required to have at least 14 members, all of which must have the CIA qualification and in practice have diverse experience of the global practice of internal auditing. 

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