Managing Corporate Risk Through Consistent, Effective Risk Assessment

by Denny Beran, John Polarinakis, and Debra Moore — J.C. Penney

In today’s business environment, there are several ways an organization can help to ensure they are setting the right tone and imbedding processes into their day to day operations to help manage corporate risks. Some of these include:

– Completing an Enterprise-wide Risk Assessment to help ensure the organization has identified the major risks for their business and compensating controls are in place to manage these risks.
– Maintaining a strong Internal Audit function that is risk-based and focusing on the major strategic risks of the organization.
– Conducting a Fraud Risk Assessment and establishing fraud awareness programs.
– Establishing an effective ethics hotline reporting process.

Deloitte Research: Deloitte Releases Whitepaper – ‘Risk Intelligence in a Downturn’

Deloitte has released its latest whitepaper on risk management, entitled “Risk Intelligence in a Downturn: Balancing risk and reward in volatile times”. The new Deloitte research whitepaper is available for download to all CCI readers.

Rick Steinberg Discusses Corporate Governance and the Challenges Facing Boards

Rick Steinberg writes a monthly essay for Compliance Week and used his space yesterday to relay some of his ideas on the governance challenges faced by boards and management in today’s business environment.

Will Companies Begin to More Aggressively Implement ERM?

Speculation has once again turned to whether corporate America will seriously consider implementing ERM as a good business lifestyle or a cost to be avoided until mandated by the regulatory authorities.