Beruflich Dokumente
Kultur Dokumente
Corporate Governance
Principles, Policies and Practices 3e
Chapter 8
The Governance of Corporate
Risk
- In which we consider:
- the US COSO integrated framework for enterprise risk
management (ERM)
- the global financial crisis: a new emphasis on corporate risk
- levels of risk the concept of enterprise risk management
- responsibility for risk profiling, risk strategy, risk policy,
and risk supervision
- identifying types of risk
- risk analysis,
- risk recognition and assessment,
- risk evaluation
- risk management information systems
- risk transfer.
Enron
BP oil rig disaster
Toyota supply chain failure
Northern Rock
What if competitors:
What if customers
Cost-cutting by government
Political threats in overseas countries.
Risk analysis
The analysis of risk has iterative phases:
risk recognition
risk assessment
risk evaluation
risk management policies
risk monitoring.
High
Loss
Low High
Probability
- We have considered
- the US COSO integrated framework for enterprise risk
management (ERM)
- the global financial crisis: a new emphasis on corporate risk
- levels of risk the concept of enterprise risk management
- responsibility for risk profiling, risk strategy, risk policy,
and risk supervision
- identifying types of risk
- risk analysis,
- risk recognition and assessment,
- risk evaluation
- risk management information systems
- risk transfer.