For a while, I have been thinking about the value of risk management (ERM) and why it is not embraced by every top executive. Last night, I was privileged to speak at the Institute of Risk Managers in London. I was asked for my views on this very subject. My answer to the risk officers that were present is along the lines of my latest post on my personal blog.

As a CAE for many years, I would develop my plan based on an assessment of the organization’s risks that I would complete. The process would typically include ...

This month, the Basel Committee on Banking Supervision released a report that makes interesting reading for risk and audit professionals, as well as board members and executives, in any industry or part of the world.

The report, Principles for Enhancing Corporate Governance, starts with six high-level principles. However, there is excellent value in reading further – many nuggets of wisdom can be found throughout the document.

A colleague shared this link with me today. It’s an article from the Financial Times (FT) about a study into corporate governance standards: the Resources Global governance index. According to the FT article, corporate governance standards are higher among the 100 largest companies on the UK stock exchange (FTSE) than in other European companies. Individual company performance is rated and publicized.

 I just ran across an insightful piece at EzineMark that merits attention from every audit or risk manager.

Risks change constantly. Risks you are aware of escalate or diminish. New ones appear on the horizon. All of this happens with speed, so you cannot think of risk management as "something you do on Friday."

I earlier shared several posts about GRC that got a lot of attention:

• The Institute of Internal Auditors' Tone at the Top Defines GRC and Gets It Right
• My GRC Journey: From Hype to Insight
• The Formal Definition of GRC

I offered the major participants in the discussion an opportunity to clarify their positions with a guest blog. The following is from Arnold Schanfield and Grant Purdy, two friends who are respected risk management practitioners and consultants. The other major commentators may provide a guest blog at a later date (due to travel and other commitments, they are unable to do so now).

In September, the NYSE released the report of its Commission on Corporate Governance. I would not call it ground-breaking, at least compared to the work of the King Commission (for South Africa). However, it is worth studying if you work with or for US corporations.