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Implementing Enterprise Risk Management
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As ERM continues to evolve there is still much discussion and confusion over exactly what it is and how it should be achieved. It is important to realize that it is still evolving and may take many more years before it is fully codified and practiced in a consistent way. In fact, there is a grave danger now of believing that there is only one way of doing ERM. This is probably a mistake by regula- tors who have too eagerly seized some of these concepts and are trying to impose them when the methods are not fully understood, and in some cases the require- ments are unlikely to produce the desired results. As Fraser and Simkins (2010) noted in their first book on ERM: “While regulatory interest can force ERM into companies, if not done well, it can become another box-ticking exercise that adds little value.”3
The leading and most commonly agreed4 guideline to holistic risk manage- ment is ISO 31000. However, it should be mentioned that in the United States the COSO 2004 Enterprise Risk Management–Integrated Framework has been the dominant fr
John R.S. Fraser Betty J. Simkins and Kristina Narvaez - Personal Name
1st Edtion
978-1-118-74618-9
NONE
Implementing Enterprise Risk Management
Management
English
John Wiley & Sons, Inc
2005
1-690
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