Primo

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 [...]

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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 [...]

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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 [...]

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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 [...]

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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. [...]

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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 [...]

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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 [...]

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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 [...]

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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 [...]

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