Enterprise Risk Management and COSO : A Guide for Directors, Executives and Practitioners

by Harry Cendrowski; William C. Mair

• ISBN13: 9780470553800
• ISBN10: 0470553804
• Format: eBook
• Copyright: 2009-11-01
• Publisher: Wiley

Summary

Praise for Enterprise Risk Management and COSOA Guide for Directors, Executives, and Practitioners"This book represents a unique guide on how to manage many of the critical components that constitute an organization's corporate defense program." -Sean Lyons, Corporate Defense Management (CDM) professional"This book provides a comprehensive analysis of enterprise risk management and is invaluable to anyone working in the risk management arena. It provides excellent information regarding the COSO framework, control components, control environment, and quantitative risk assessment methodologies. It is a great piece of work." -J. Richard Claywell, CPA, ABV, CVA, CM&AA, CFFA, CFD"As digital information continues its exponential growth and more systems become interconnected, the demand and need for proper risk management will continue to increase. I found the book to be very informative, eye-opening, and very pragmatic with an approach to risk management that will not only add value to all boards who are maturing and growing this capability, but also will provide them with competitive advantage in this important area of focus." -David Olivencia, President, Hispanic IT Executive CouncilOptimally manage your company's risks, even in the worst of economic conditionsThere has never been a stronger need for sound risk management than now. Today's organizations are expected to manage a variety of risks that were unthinkable a decade ago. Insightful and compelling, Enterprise Risk Management and COSO reveals how to:Successfully incorporate enterprise risk management into your organization's cultureFoster an environment that rewards open discussion of risks rather than concealment of themQuantitatively model risks and effectiveness of internal controlsBest discern where risk management resources should be dedicated to minimize occurrence of risk-based eventsTest predictive models through empirical data

Table of Contents

Preface

Organizational Risk Management

An Introduction to Risk

Key Tenets to Risk

Mitigating Operational Risks Through Strategic Thinking

Mitigating Risk in Internal Investigations and Insurance Coverage

Quantitative Risk Management

Recognized Control Frameworks COSO and COSO-ERM

Other Control Frameworks

Qualitative Control Concepts

Quantitative Control Relationships

Excell Applications

Interdependent Systems

Documentation

The Process for Assessing Internal Control

Monitoring Internal Controls

Accounting Policies and Procedures

Business Process Applications

General and Infrastructure Systems

Trusted System Providers

Reporting on Internal Control

Review and Acceptance of Assessments

Glossary

Appendix

Internal Control Sections of the Sarbanes-Oxley Act

Index

Table of Contents provided by Publisher. All Rights Reserved.