Articles
Tag: norman marks (page 6)
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Monitoring Social Media for Risk, Control Issues, Opportunities
I recently met with a software company that specializes in monitoring social media. Their customers are interested in spotting "chatter" and discussions about their organization, its products and services, and the extended enterprise (e.g., vendors and channel partners).
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PwC on the State of the Internal Audit Profession - Their Opinion
I added the phrase ‘their opinion’ to the end of the title, because while PwC always reports what respondents say, it is understandably difficult to do so with bias.
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Risk Appetite: Contributions to Thought Leadership from COSO
A recent thought paper on risk appetite by COSO prompts guest writer Norman Marks to explore the place risk appetite and its management have in the day-to-day strategic plans of organizations. My congratulations go to Professor Larry Rittenberg and Frank Martens of PwC on the Thought Leadership Paper "Understanding and Communicating Risk Appetite,"
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Corporate Governance Guidance from Australia
The ASX Corporate Governance Council, chaired by the Australian Securities Exchange (ASX), has released a second edition of Corporate Governance Principles and Recommendations (see here for the ASX announcement and related resources, or here if you want to go directly to the document ).
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How Governance and Risk Management Failures Contributed to Fall of Major UK Bank
The UK’s Financial Services Authority (FSA) has published its report on the causes of the failure of the Royal Bank of Scotland (RBS). RBS was a massive bank and its failure was significant to the UK and global economy.
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Mobile Risks and Opportunities: Is Your Company's Strategy Optimized?
The year 2011 saw an explosion of mobile use in work settings. With the coming year promising even greater integration of mobile devices in the enterprise, it is time for companies to sit down and think about their mobile device strategy.
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Information Security Study Shows Increased Risk, Insufficient Spending
The latest report from PwC, conducted with CIO and CSO Magazines, points to some interesting trends in international information security. The global study drew its respondents from 138 countries, indicating the common threats, improvements and concerns facing industries worldwide. Interesting Facts and Observations Highlights from the PwC report: 70 percent of executives across industries and markets worldwide are confident in the effectiveness of their organization’s information security practices. They
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Shining the Spotlight on Mobile Risks and Opportunities
Today, I want to share a treasure trove of information and perspectives on mobile security from SC Magazine. They released an edition of their “Spotlight” edition on the topic of mobile security. You can download a copy here. Interesting Facts and Observations The Spotlight includes several articles that you
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GRC: Risk is Not a Quarterly Exercise, It Should Be a Way of Life
The only way risk management has value is if it affects the way you do business. It must influence decisions and actions; otherwise, it is no more than decoration. Risk management should not be a “check-the-box” activity. Used well, it can help an organization achieve and sustain optimal long-term performance.
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Accenture 2011 Global Risk Management Study: Important, Startling, but Deceiving Results
Despite the apparent sampling bias in this Accenture study, the study’s shocking results -- some of which I highlight in this article -- still reveal interesting and important insights into how risk management philosophy and practices may have shifted and progressed since Accenture’s last study in 2009.
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From Disharmony to Harmony: A Musical Metaphor that Explains GRC
Who knew that GRC could be explained using three brilliant, but competing, musicians…and Jimmy Carter? I included a metaphor to explain my thinking on the relationship between governance and risk management in comments on this post. People seem to have enjoyed that, so I thought I would use a
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Enabling Risk Management Across the Organization
An article that caught my eye last week was a piece by Ron Ashkenas in the Huffington Post Business section: Every Manager is a Risk Manager. Now, Ron does not have a background as a practicing risk officer, so his knowledge and understanding of risk management is not perfect;
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Do You Know the Difference Between Risk Tolerance and Risk Appetite?
Just what is risk appetite and how does it differ from risk tolerance? Risk Appetite vs Risk Tolerance How can we have a productive conversation about risk management unless we use the same language? One of the terms that serves as much to confuse as to clarify is “risk appetite.
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Making Mistakes and Poor Decisions Because of Old Risk Information
The other day, I was working on an article about assessing risk management and looked to the COSO ERM Framework for quotes. Specifically, I looked at the Executive Summary for language concerning the need for decisions to be based on timely, current and reliable information about risks. I found
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