By Louise Gray, Environment Correspondent, for the Telegraph New flood defences will be built around the country, Owen Paterson, the Environment Secretary has announced, but concerns remain over whether enough money has been allocated to protect homes from the increasing risk of extreme weather. Mr Paterson gave the go ahead for building to start on 93 new [...]
BP counts the political and financial cost of Deepwater Horizon A disaster as the oil leak in the Gulf of Mexico is not anymore the domain of a private company, an accident, but has been centered into the heart of the public domain, public governance and of public risk management. This story in The Economist [...]
Source: The Institute of Internal Auditors “Today’s business environment is characterized by mounting pressures for stronger, more effective risk management. There is a sharp focus on risk oversight, considered by many observers to be the top governance issue facing corporate boards in a post-meltdown world. Audit committees are pushing for holistic risk management, stepped-up risk [...]
Source: ICMA (International City/County Management Association) by Ron Blanquie “It’s no wonder that risk management’s public role is often underused and misunderstood. Government entities have incorrectly concluded that risk management’s overall costs can only be tethered but not controlled or reduced. Public entities in California today face an unprecedented challenge as they try to maintain [...]
Considering the fact that many surveys and studies bring forward the vulnerability of the human factor in all kind of processes, and that risks seems to emerges as human mistakes, it is good to know the background and environment of human behaviour at work. We think that the Risk Observatory of the European Agency for [...]
On the 14th of March, next week, the G20 countries are meeting in London to prepare for the global economic summit next month. What will be on the agenda? Financial regulators as tax, funds and bonusses. Of course. But the real focus will be on prevention and avoiding disasters. for the future. Quite an ambition. [...]
Amsterdam is midway through the construction project of the north-south metro line (photo © ANP). The 8-year project began in 2002 and is costing €1.7billion, double the figure projected in 1996! But there are hugh problems realizing it. Where the risks underestimated? The contracts not well designed? Council and alderman amateurs? The managers, planners and [...]
Every city and village in Europe, and with them politicians and managers, will be confronted with the financial crisis by the way policies and projects can and will be forecasted and budgetted. The flooding of the risk crisis is not yet over. The water level is still high. And when the “water” falls to its [...]
General handbook about Enterprise Risk Management (US, 2004) COSO is a voluntary private sector organization dedicated to improving the quality of financial reporting through business ethics, effective internal controls, and corporate governance. This framework, prepared for The Committee of Sponsoring Organizations of the Treadway Commission (COSO), details the essential components of enterprise risk management and [...]
Discussion Paper, March 2005 This discussion paper sets out the views of the Fédération des Experts Comptables Européens (FEE) – the representative body of the European accounting profession – on: • The case for listed companies in Europe to exercise risk management and internal control in the interests of shareholders; • How regulators in the [...]
Managing the people side of risk
Companies can create a powerful risk culture without turning the organization upside down. By Alexis Krivkovich and Cindy Levy for McKinsey & Company Insights & Publications Most executives take managing risk quite seriously, the better to avoid the kinds of crises that can destroy value, ruin reputations, and even bring a company down. Especially in the wake [...]
Global Risk Management Survey 2013
Aon’s 2013 Global Risk Management Survey report is part of this process, capturing the latest risk trends and priorities facing companies around the world. The report unveiled the top 10 risks now and three years in the future. Conducted in Q4 2012, the web-based survey gathered input from 1,415 respondents — a 47 percent increase [...]
By Daniel Cressey for Nature “Across the globe, hives of honeybees are dying off in a phenomenon known as colony collapse disorder. Among the proposed culprits are pesticides called neonicotinoids, which are supposed to be less harmful to beneficial insects and mammals than the previous generation of chemicals. Debate over neonicotinoids has become fierce. Conservation groups and [...]
The economic crisis in Spain has led to an increased awareness among senior executives of how risk must be managed globally. Read more > Leer más > (en espagñol) Source: Strategic Risk
A framework in development By Ed Mallens and Jack P. Kruf The International Organization for Standardization (ISO) has worked on the ISO 31000 as referential framework for risk management in organizations. The setting has been outlined by ISO very clearly: “Risks affecting organizations can have consequences in terms of economic performance and professional reputation, as [...]
