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The Practitioner Leader

The Practitioner Leader

Being a leader means taking risks. Nobody leads if they sit in their office reviewing files and talking to their staff on the phone. No, true leaders are people who…
rowing race

Missing The Boat On IT And Technology

When you look at surveys of CEOs, such as the ones by PwC in 2014, McKinsey in 2013 and IBM in 2012, they reflect what we…
The Continuing Failure Of The Risk Appetite Debate To Focus On Desired Levels of Risk

The Continuing Failure Of The Risk Appetite Debate To Focus On Desired Levels of Risk

I have written often and with passion about the concepts of “risk appetite” and “risk tolerance”. In order of date, from earliest to latest: An effective risk tolerance, appetite, criteria, etc. statement A discussion of Risk Appetite by thought leaders Just…
New Paper On Internal Risk Assessment And The Audit Plan

New Paper On Internal Risk Assessment And The Audit Plan

One of the software vendors that have been providing solutions for internal auditors for many years is Thomson Reuters. With annual revenues of nearly $13 billion, they are one of the few
Risk Officers On The Front Lines Of The Big Data Analytics Revolution

Risk Officers On The Front Lines Of The Big Data Analytics Revolution

I was intrigued to read that when McKinsey gathered together “eight executives from companies that are leaders in data analytics …. to share perspectives on their biggest challenges”, they
McKinsey Talks About A Forward-Looking Board Of Directors

McKinsey Talks About A Forward-Looking Board Of Directors

The latest edition of McKinsey Quarterly is on the topic of “Building a forward-looking board”. I like the general theme, that “directors should spend a greater share of…
elements of risk management

Interesting New Paper On Risk Culture

The topic of risk culture has been receiving a lot of attention ever since it was identified as a cause of many of the problems that led to major issues at financial services organizations a few
Audit Committees, Ask Your External Auditors These Questions Now

Audit Committees, Ask Your External Auditors These Questions Now

The Audit Committee of the Board (or equivalent) is responsible for oversight of the external auditors’ work. This should include taking reasonable measures to ensure a quality audit…
Understanding The COSO Frameworks

Understanding The COSO Frameworks

Whether you are a fan of the COSO ERM and Internal Control frameworks or not, a paper just released by COSO is worth reading and thinking about….
Misunderstanding Risk And Controls

Misunderstanding Risk And Controls

Time and again I hear that risk management is seen as something that is required by the regulators, perhaps by the board or top…