Protiviti just recently published the latest its series of Board Perspective newsletters. This one focuses on how organizations can improve their Risk Assessment Process. Here is a synopsis:
An effective risk assessment is fundamental to risk management and the board’s risk oversight process. Successful risk assessments help directors and executive management identify emerging risks and face the future confidently.
This article summarizes 10 practices that will help management and directors maximize the value derived from the risk assessment process.
One item that I like to highlight here is that the newsletter focused on considering strategic risks and does not focus on a specific department or control area. All too often, I see organizations having “Information Technology” as an enterprise risk. While this may be true in some circumstances, this broad risk area tends to be symptomatic rather than strategic. Organizations should be considering the impact that disruptive technology will have on their business and how information technology could contribute to other business risks.
You can read the full newsletter on Protiviti.com
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