Risk Oversight and Risk Governance of Firms
Risk is threats for firms’ future development, so effective risk oversight is important for firms. Board of directors plays a significant role in the risk oversight process, but they are facing serious challenges and pressures in effective risk oversight. Therefore, risk governance is becoming more and more important for firms to effectively reduce their risks, develop a robust internal control system and then become profitable.
Overview of Fraud Risk Management
Does your organisation follow a specific risk management model? If so, which one? Do you think this model adequately addresses the risks your organisation faces? Why or why not?
Managing Fraud Risk: Prevent, Detect, and Respond
Managing fraud risk differs from other risks as these intentional misconduct are specifically designed to evade detection.
Organisations need to realise the importance of addressing fraud risks strategically and move away from being reactive, to adopting a proactive approach.
Fraud Risk Management in Internal Audit
Several high-profile and large-scale corporate fraud cases have made headlines in recent years. Investigations into a number of these frauds have identified that many of them took place over a significant period of time and often resulted in crippling impact to, and even the demise of, the victim organizations.
Integrating Cybersecurity and Enterprise Risk Management (ERM)
The increasing frequency, creativity, and severity of cybersecurity attacks means that all enterprises should ensure that cybersecurity risk is receiving appropriate attention within their enterprise risk management (ERM) programs.
Meeting the Future: Dynamic Risk Management for Uncertain Times
Dynamic risk management has three core component activities: 1) Detecting potential new risks and weaknesses in controls, 2) Determining the appetite for risk taking, and 3) Deciding on the appropriate risk-management approach.
Detecting risks and control weaknesses Institutions need both to predict new threats and to detect changes in existing ones. Today, many companies maintain a static and formulaic view of risks, with limited linkages to business decision making.
Framework for Dynamic Risk Management in Responsive Organisations – Thesis
In a fast-moving business environment open to global competition and with the proliferation of new technology, risk management is fundamental to doing business, especially considering the dynamic nature of the environment in which organisations now exist.
McKinsey on Risk & Resilience: Managing Risks to achieve Resilience
Welcome to the latest issue of McKinsey on Risk & Resilience, now a subscription-based, quarterly publication featuring the latest trends, research, insights, and best practices related to financial and nonfinancial risks, and how to build and strengthen business resilience in an ever-evolving world.
The Art and Science of Risk Management: A Delicate Balance
Risk management is both an exact science and a creative art, requiring a delicate balance of analytical precision and intuitive judgement. This article explores how combining data-driven methodologies with experiential insights empowers organisations to navigate uncertainty, mitigate threats, and seize opportunities. Discover the best practices for mastering this dual approach.
Evaluating and Establishing Baseline Security Requirements in Cloud Computing: An Enterprise Risk Management Approach
In today's digital age, businesses use cloud services to boost their operations exponentially. While this trend presents excellent potential, it is marred by significant concerns over the safety of data stored in the cloud. As the demand for cloud computing increases, businesses face issues ranging from data breaches and provider security to service availability and regulatory compliance.