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Risk Management
Global Risks 2012 Seventh Edition:
Landscapes
depict potential impact and likelihood of global risks over the next 10
years, as rated on a 1 to 5 scale by respondents of the Global Risks
Survey.
Source:
oliverwynan.com
The Inter-Relationships of Risk, Objectives, Strategy and
Performance:
Every so often, I read an article or guidance that talks about
risk and strategy, risk and achieving objectives, or risk and
performance management.
Source:
sustainablebusinessforum.com
What to Put on Your Risk Radar Screen:
IT security,
global expansion, and excess cash top the list of 10 risks companies
should be particularly concerned about in 2012.
Source:
cfo.com
Very Big, Yet Hard to See:
While the
financial crisis has given companies plenty of motivation to expand
their risk-management practices, very few executives lose sleep over the
constantly changing predilections of three-year-old children.
Source:
cfo.com
What is Your Risk Assessment Worth?:
The risk assessment provides an organization with a tool to
determine how, where and how much to invest in controls and security
over technology.
Source:
cutimes.com
Risk Factors: Time for a Tune-Up:
Preparing the
annual report is a significant effort that consumes many people’s time
throughout a company. One section — risk factors — is particularly
important but often neglected outside the legal department.
Source:
cfo.com
New RIMS President Luthi sets agenda:
Those guiding
principles come from work the board of New York-based RIMS has been
doing during the past year and a half to refocus the society's approach
to meeting its mission of advancing risk management and RIMS members'
success.
Source:
businessinsurance.com
Emergency
Risk
Management
Govt launches emergency payment tech:
The new IT
system, tested during last summer's
Queensland floods, will mean that the Federal Government can deliver emergency
payments from almost any location.
Source:
zdnet.com.au
Legal confusion leads to unnecessary death:
In an earlier post I mentioned that three UK incident controllers were
being prosecuted over the deaths of four firefighters.
Source:
worldpress.com
New ISO standard provides incident response guidance:
ISO has announced the availability of a new disaster management
standard, ISO 22320:2011.
Source:
continuitycentral.com
Flood risk and insurance: A roadmap to 2013 and beyond:
Insurance plays a key role in flood risk management. The Government has
an agreement with the insurance industry, called the ‘Statement of
Principles’, that commits insurers to continue to offer insurance to
existing customers where they are at significant risk and where the
Environment Agency has announced plans...
Source:
defra.gov.uk
Seven key considerations when evaluating emergency and mass notification
systems:
The calendar has closed on what many are calling the ‘Year of
Disasters.’ The United States set a record with 12 separate billion
dollar weather/climate disasters in 2011, with an aggregate damage total
of approximately $52 billion, according to NOAA.
Source:
continuitycentral.com
Governance & Compliance
Refounding Good Governance:
Our purpose
is to examine the choices that organizations can make in designing
governance systems and the impact those choices have on executive
decision-making and the organization’s performance.
Source:
nytimes.com
Financial Services
Fed Compels Banks to Follow Tougher Risk Management Rules:
The Federal Reserve sought to curb the threat of financial turmoil by
compelling the biggest banks to follow a tougher standard for risk
management and demanding stricter oversight by companies' boards of
directors.
Source:
businessweek.com
Risk and the Road Ahead:
To cope with
market volatility and heightened regulatory pressure, bank boards must
play a much more proactive role in risk management.
Source:
novantas.com
View from the Top: The Eurozone crisis is an enterprise risk issue:
The Eurozone crisis and its potential impact on the insurance industry
are an enterprise issue for risk managers and commercial customers - and
not solely the domain of finance managers.
Source:
insuranceinsight.eu
Occ Health, Safety & Environment
The business of OHS disharmony:
We can now say that the Gillard government’s attempt to
harmonise Australia’s occupational health and safety laws appears
destined for failure. The latest setback for Gillard is Queensland, the
only state that has passed the model OHS laws in full.
Source:
businessspectator.com.au
Harmonised WHS - Compilation of legislative instruments:
The
harmonised Work Health and Safety (WHS) legislation is set to commence
in five out of nine jurisdictions from 1 January 2012.
Source:
nsca.org.au
Grieving mother calls for mine safety:
The mother of
a young man who died in a West Australian gold mine accident has called
on miners to raise the bar on safety and ensure her son's death was not
in vain.
Source:
smh.com.au
Workplace bullying code slammed by employers:
A leading
business group has criticised a draft code of practice on workplace
bullying, claiming small businesses will be unable to introduce some of
its proposals.
Source:
startupsmart.com.au
Financial Management
Why (and How) to Stress-Test:
In recent years, stress testing has become more important,
fuelled by regulatory requirements and the weakened economic
environment.
Source:
cfo.com
Risk management to be key function for CFOs in 2012:
SINGAPORE: Chief financial officers have traditionally been
seen as guardians for companies, and this role takes on a special
significance in times of crisis.
Source: channelnewsasia.com
Can we help?
If you have any risk management, governance, internal audit or business
continuity matters you would like to discuss, contact InConsult on 02
9241 1344 or email your query to
info@inconsult.com.au |
Risk Management Technology
GuardianERM.net releases latest version – v.6.1!
Highlights include:
§
A number of enhancements to Risk Profiler and Extended Heat Map
§
New Attestation function
§
Configurable Residual Risk rounding
§
Incident management module enhancements
§
New Breach Form
§
New Issues Log
§
A number of new reports and enhancements have
been made to
the Incident Management Function.
GuardianERM.net
is a
web-based Governance, Risk and Compliance (GRC) system that allows
people across an organisation to better collaborate, streamline
processes and integrate risk, control, audit and incident data to manage
risk and improve resilience. It supports best practice standards
including AS/NZS ISO 31000, AS 8000, AS 3806, HB 292, ISO 9000. If you
would like to find out how guardian can help you better sustain your
risk management framework,
click here
or
contact
InConsult to arrange a demonstration or trial.
Upcoming Training
16 February
2012
GIPA in Practice (half-day)
The
Government Information (Public Access) Act 2009 (GIPA) has come into
effect. The new Act will have a significant impact on the way in which
NSW Government agencies provide public access to government information…more
5 March 2012
Introductory Risk Management (one-day)
This down-to-earth and ‘entertaining’ training program helps to
ensure that all people involved in risk management activities in your
organisation understand the key concepts of risk management (using ISO
31000), internal control and audit. This full day course includes an 8
chapter Introductory Risk Management workbook, case studies, a
certificate of attainment and 6 hours CPE points can be claimed…more
Fraud Risk
Payments fraud hit $220m:
CREDIT and
debit card fraud rose to $221 million in the past financial year, up
from $184m a year earlier.
Source:
theaustralian.com.au
Why Romanians specialise in ATM skimming:
Two Romanian
men appeared in Balmain Local Court, charged with offences related to
ATM skimming.
Source:
smh.com.au
SEC charges ex-Fannie, Freddie CEOs with fraud:
The Securities and Exchange Commission brought civil fraud charges
against six former top executives at Fannie Mae and Freddie Mac, saying
they misled investors about risky subprime loans the that mortgage
giants held when the housing bubble burst.
Source:
businessweek.com
German court finds six guilty in CO2 fraud trial:
A German court sentenced six men to jail terms of between three years
and seven years and 10 months in a trial involving evasion of taxes on
carbon permits.
Source:
climatespectator.com.au
Citibank failed to act on Puri scam warning signals, says probe
report:
The Rs 400-crore fraud unearthed in Citbank's Gurgaon branch could have
been averted if the bank staff had taken the warning signals seriously,
according to an internal investigation carried out by the bank.
Source:
indiatimes.com
Where There's Smoke, There's Fraud:
As a
convicted felon, Sam E. Antar, the former CFO for the now-defunct
consumer-electronics chain Crazy Eddie, no doubt has regrets. Among
them: he is no longer in the game at a time when corporate fraud is
experiencing a resurgence. "If I were out of retirement today, I'd be
bigger than Bernie Madoff," he boasts.
Source:
cfo.com
Lessons Learned from the Frauds of 2011:
Let’s leave
wrap-ups of the most joyous highlights of 2011 to other publications
such as lifestyle and entertainment magazines.
Source:
cfo.com
Fraud Management Health Check
No organisation can
assume that its safeguards against fraud are adequate…you need to know
the gaps. Our Fraud Management Health Check is a structured, independent
review of your fraud management framework to help provide you peace of
mind. If you would like to find out more
click here
Business Continuity and Resilience
The six ‘gotchas’ of disaster recovery:
It is no surprise that disaster
preparation is top of mind among people these days.
Source:
continuitycentral.com
Global business continuity concerns are
driven by IT and Internet vulnerabilities in 2012:
Dominating the horizon scanning of business continuity professionals
around the world are threats arising from IT, telecom and Internet
dependencies.
Source:
bcfiles.com
Internal Audit
Should the head of the internal audit function also direct the
risk management program?:
For a number
of reasons, management at several companies have asked the head of
internal audit (CAE) to start up and manage their risk management
program...
Source:
wordpress.com
Continuous Auditing = Continuous Improvement:
In recent
years, challenges concerning automation, technology risk and operational
improvements were often put on the backburner as organizations responded
to an all-hands-on-deck need to address Sarbanes-Oxley (SOX) compliance
requirements.
Source:
corporatecomplianceinsights.com
New IPPF Practice Guide Released: Reliance by Internal Audit on
Other Assurance Providers:
The IIA’s International Professional Practices Framework (IPPF)
has released a new practice guide entitled “RELIANCE BY INTERNAL AUDIT
ON OTHER ASSURANCE PROVIDERS.”
Source:
coso.org
Internal Auditors: A Call to Action:
One thing
I've always loved about the internal audit profession is that it's
constantly changing and evolving.
Source:
bankinfosecurity.com
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