Articles
Do techies really understand cyber risk?
The question came up after reading two recent papers published by sources you would expect to have more authority on the matter.
Cybersecurity Involves the Whole Business
Lockheed Martin, the Bethesda, Md.
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Businesses struggle to strike a balance between creating and preserving value when it comes to risk management.
Sean Lyons, a strong advocate of corporate defense programs, wrote a post on this topic which offers a good deal of common sense.
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Have you ever played Monopoly?
Players compete to win by either having more money when the game ends (if there is a time limit) or by being the only one left standing after all the others have gone bankrupt.
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Forces are pushing multiple business departments to be more agile in their day to day operations, and internal audit is no exception.
Faced with an ever-changing list of risks, internal audit is tasked with becoming more nimble, more strategic and more data-driven.
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Risk does not exist in a vacuum. Considering it as such is a sure path to poor performance.
A Governance Model for Risk ...
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Organizational culture has been blamed for many recent disasters.
These include BP Deep Water Horizon — referred to as both a “culture of greed” as well as a culture that had defects relating to safety, GM — called a "culture where you get fired if you do talk about quality and safety issues, and you get fired if you don’t talk about them”, Toyo Tire — “Toyo Tire’s problems stem from its corporate culture ” and
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If people think they have effective cyber security, they are almost certainly mistaken.
Sobering Numbers
Let’s look at the results of Protiviti’s 2015 IT Security and Privacy Program. The summary offers four “key findings,” but I found other content far more important.
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Do top executives and board members understand the role of internal audit and the capabilities it offers?
This question was prompted by a post that a valued member of my network, Alfred Rodas, brought to my attention, "Internal Audit and it's enhanced role in the future "(sic).
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Are you ready for the new technology that will change our world, again?
It’s not that long since we were dismissing the Internet of Things as something very much "next generation." But, as you will see from Deloitte’s collection of articles, many organizations are already starting to deploy related
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Cyber risk continues to be a concern for many, as witnessed in recent coverage. And it looks as if hackers are getting smarter, while businesses remain in denial.
No Boundaries
The Deloitte post, "Cyber risk, issues and opportunities for private companies " is important because it asserts — correctly
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If there is any value to the concept of Governance, Risk management and Compliance, it must lie in more than the generic meanings of its constituent parts. A good place to start is the treatment of the term by the Open Compliance & Ethics Group (OCEG ).
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The latest edition of McKinsey Quarterly is titled “Changing the nature of board engagement.” In this short piece, the authors, Bill Huyett and Rodney Zemmel, write that, in the face of growing business complexity and ever more rigorous regulation: McKinsey research suggests that the most effective directors are meeting
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Risk management is not about avoiding failure -- it is about achieving success. The ERM Initiative at North Carolina State University, led by Mark Beasley, has published its sixth report on the state of risk management. I saw the first report in 2010 and frankly, not much has changed.
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If a CEO wants his organization to realize the opportunity presented by risk management to deliver better decisions and, through them, improved performance, he needs to do more than “walk the talk.” I have come up with the phrase “embrace and embody” risk management. (Feel free to borrow it.
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