The Hunger for Risk Appetite

Posted on Jul 28, 2011

There is no doubt that when it comes to risk, the internal audit profession is maturing. A few years ago, annual risk assessments were considered a leading practice but were not even required under our professional standards. Today, documented risk assessments are mandated at least annually. Many audit executives see a need for more frequent assessments, and a growing number of executives are shifting toward a continuous risk assessment model. We are spending more and more time and resources assessing risk — but unless there is a shared vision on risk appetite within the enterprise, the full benefit of any risk assessment is unlikely to be realized.

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Crisis Management: The Inevitability of the Unlikely

Posted on Jul 20, 2011

Mary Poppins had it right: Impossible things are happening every day. Or at the least, extremely improbable things are happening all around us. In these uncertain times, the unexpected has become the status quo, and we go through our days knowing that the next super-catastrophe might be just around the corner. We’re not just dealing with fires and floods — we’re at risk from terrorism, pandemic disease, mega-earthquakes, tsunamis, super-sized volcanic eruptions, or perhaps the decade’s largest industrial accident, just to name a few.

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