‏331.00 ₪

Risk Assessment For Mid-Sized Organisations - COSO Tools for a Tailored Approach 2e

‏331.00 ₪

ISBN13

9781940235080

יצא לאור ב

מהדורה

2nd Edition

זמן אספקה

21 ימי עסקים

עמודים

144

פורמט

Paperback / softback

תאריך יציאה לאור

30 במאי 2017

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פרטים

Companies often struggle with the concept of enterprise risk management. The heart of ERM is the risk assessment process that has evolved from the COSO framework. This resource offers practical examples and explanations that lay out a clearly defined framework for approaching enterprise risk management from start to finish. It identifies risk at the entity level in small and medium size enterprises, and allows you to develop a tailored approach to an organization s risk management requirements. The publication features tightly written strategies and helpful diagrams that translate COSO guidelines into tactical plans and it includes a free download containing: * A set of Excel worksheets that show how following the ERM tactics will impact quantitative financial measurements * A PowerPoint presentation for training staff that are involved in the ERM process Together this approach will allow you to create a solid structure for a risk management process that helps you avoid the internal and external risks that damaged so many organizations in the recent past. You will be able to: * Create a common language to define, identify, evaluate, and manage risk * Establish and agree on risk tolerances and risk appetite * Identify risk management expectations, current gaps, and risk owners * Leverage cross-functional expertise to manage risk to within acceptable levels

מידע נוסף

מידע נוסף
מהדורה	2nd Edition
עמודים	144
פורמט	Paperback / softback
ISBN10	1940235081
יצא לאור ב	NC
תאריך יציאה לאור	30 במאי 2017
תוכן עניינים	INTRODUCTION: EMBRACING ENTERPRISE RISK MANAGEMENT: PRACTICAL APPROACHES FOR GETTING STARTED 1 Overview and the Question of Where to Start? 1 Keys to Success 2 Theme 1. Support From the Top Is a Necessity 2 Theme 2. Build ERM Using Incremental Steps 3 Theme 3. Focus Initially on a Small Number of Top Risks 4 Theme 4. Leverage Existing Resources 5 Theme 5. Build on Existing Risk Management Activities 5 Theme 6. Embed ERM Into the Business Fabric of the Organisation 5 Theme 7. Provide Ongoing ERM Updates and Continuing Education for Directors and Senior Management 6 Initial Action Steps and Objectives 6 Step 1. Seek Board and Senior Management Leadership, Involvement and Oversight 8 Step 2. Select a Strong Leader to Drive the ERM Initiative 8 Step 3. Establish a Management Risk Committee or Working Group 9 Step 4. Conduct the Initial Enterprise-wide Risk Assessment and Develop an Action Plan 10 Step 5. Inventory the Existing Risk Management Practices 11 Step 6. Develop Your Initial Risk Reporting 13 Step 7. Develop the Next Phase of Action Plans and Ongoing Communications 14 Continuing ERM Implementation 15 Chapter Summary 16 Where to Start: Draft Action Plan for an ERM Initiative 16 1 COMPELLING REASONS FOR ENTERPRISE RISK MANAGEMENT 21 The Evolution of the COSO Internal Control: Integrated Framework to the COSO ERM Framework 23 2 ENTITY-WIDE RISK ASSESSMENT 25 Risk Tolerance 26 Materiality 27 Objective Setting 31 3 IDENTIFYING RISK: ENTITY-LEVEL VERSUS ACTIVITY-LEVEL 33 Risk Assessment 38 Probability 39 Potential Impact 41 4 RISK MANAGEMENT 45 Control Maturity 47 Residual Risk 48 5 ACTIVITY-LEVEL RISK ASSESSMENT 51 Understanding the Approach: Financial Reporting 51 Workshop Prerequisites 52 Risk Factor Rating System 53 Risk Factor Scale 54 Weighting of Risk Factors 54 Activity-Level Risk Factor Rating Table Guidelines 57 Activity-Level Inherent and Fraud Risks 59 6 UNDERSTANDING AND COMMUNICATING RISK APPETITE 61 Enterprise Risk Management and Decision Making 62 Develop Risk Appetite 62 Communicate Risk Appetite 62 Monitor and Update Risk Appetite 62 Can it Be Done? 63 Overview 64 Risk Appetite Is an Integral Part of Enterprise Risk Management 64 Considerations Affecting Risk Appetite 64 Steps in Adopting Risk Appetite 66 Risk Appetite Statements 66 Characteristics of Effective Risk Appetite Statements 67 Reluctance to Embrace Risk Appetite 68 Risk Appetites Are Not All the Same 68 Examples of Risk Appetite Statements 69 Risk Appetite and Risk Tolerance 71 Linking Risk Appetite and Risk Tolerance 72 Examples of Risk Tolerance Statements 74 Developing Risk Appetite 75 Facilitated Discussions 75 Discussions Related to Objectives and Strategies 76 Development of Performance Models 78 Communicating Risk Appetite 78 Broad Risk Appetite Statement 79 Risks Related to Organisational Objectives 79 Categories of Risk 80 Risk Appetite Cascades Through the Organisation 81 Monitoring and Updating Risk Appetite 82 Creating a Culture 82 Roles 83 Summary of Risk Appetite Considerations 86 EPILOGUE 89 REFERENCES 91 APPENDIX A: KEY TERMS 93 APPENDIX B: SAMPLE RISK LIBRARY 95 APPENDIX C: SAMPLE HEAT MAPS 97 APPENDIX D: SAMPLE CONTROL MATURITY MODELS 103 APPENDIX E: SAMPLE COMPANY MODEL MAPPED TO ENTITY-WIDE RISK LIBRARY 107 APPENDIX F: EXAMPLES OF RISK ASSESSMENT REPORTING 115 APPENDIX G: SAMPLE OF A FINANCIAL REPORTING RISK LIBRARY (INHERENT AND FRAUD RISKS) 125
זמן אספקה	21 ימי עסקים