Enterprise Risk Management Best Practices: From Assessment to Ongoing Compliance

Description: FREE SHIPPING UK WIDE Enterprise Risk Management Best Practices by Anne M. Marchetti High-level guidance for implementing enterprise risk management in any organization A Practical Guide to Risk Management shows organizations how to implement an effective ERM solution, starting with senior management and risk and compliance professionals working together to categorize and assess risks throughout the enterprise. FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description High-level guidance for implementing enterprise risk management in any organization A Practical Guide to Risk Management shows organizations how to implement an effective ERM solution, starting with senior management and risk and compliance professionals working together to categorize and assess risks throughout the enterprise. Detailed guidance is provided on the key risk categories, including financial, operational, reputational, and strategic areas, along with practical tips on how to handle risks that overlap across categories. Provides high-level guidance on how to implement enterprise risk management across any organizationIncludes discussion of the latest trends and best practicesFeatures the role of IT in ERM and the tools that are available in both assessment and on-going complianceDiscusses the key challenges that need to be overcome for a successful ERM initiative Walking readers through the creation of ERM architecture and setting up on-going monitoring and assessement processes, this is an essential book for every CFO, controller and IT manager. Back Cover Although Enterprise Risk Management (ERM) is a top concern for organizations of all types across the globe, the process of implementing ERM often overwhelms business leaders, who fear they dont have the time, money, experience, or resources to develop and sustain what they perceive to be a daunting project. Written to demystify the entire ERM process, Enterprise Risk Management Best Practices shows you how to easily and painlessly implement and maintain a practical, cost-effective ERM plan in any organization, regardless of its size, finances, or resources. Author Anne Marchetti--a Sarbanes-Oxley expert and thought leader on the subject--provides step-by-step guidance complemented by simplified explanations of related concepts in a handy, reader-friendly guide. Enterprise Risk Management Best Practices begins by explaining how ERM initiative must begin from the top, with senior management and risk and compliance professionals working together to categorize and assess risks throughout the enterprise. Marchetti then provides detailed coverage on the key risk categories of concern--financial, operational, reputational, and strategic--along with practical tips on how to handle risks that overlap across categories. Enterprise Risk Management Best Practices proceeds to walk you through the entire process of crafting ERM architectures and setting up ongoing monitoring and assessment processes. A must-read for CFOs, controllers, finance executives, auditors, IT managers, and consultants who want to curtail surprises and losses as well as capitalize on business opportunities, Enterprise Risk Management Best Practices delves deeply into: The value and benefits of ERM Corporate governance: roles and responsibilities The role of IT in ERM The ERM process, step by step COSO framework Financial reporting competencies Whistleblower programs Financial reporting objectives and risk Moving beyond and reevaluating initial compliance Available tools in assessment and ongoing compliance Key challenges you may face along the way Best practices for a successful ERM initiative International financial reporting standards Key elements of an effective IFRS implementation Cost minimization and control optimization insights and strategies Even a minimal investment in risk assessment and risk management can improve efficiency and reduce losses in your organization. Let Enterprise Risk Management Best Practices guide you through a successful ERM program tailored to suit your companys unique needs. Flap Although Enterprise Risk Management (ERM) is a top concern for organizations of all types across the globe, the process of implementing ERM often overwhelms business leaders, who fear they dont have the time, money, experience, or resources to develop and sustain what they perceive to be a daunting project. Written to demystify the entire ERM process, Enterprise Risk Management Best Practices shows you how to easily and painlessly implement and maintain a practical, cost-effective ERM plan in any organization, regardless of its size, finances, or resources. Author Anne Marchetti--a Sarbanes-Oxley expert and thought leader on the subject--provides step-by-step guidance complemented by simplified explanations of related concepts in a handy, reader-friendly guide. Enterprise Risk Management Best Practices begins by explaining how ERM initiative must begin from the top, with senior management and risk and compliance professionals working together to categorize and assess risks throughout the enterprise. Marchetti then provides detailed coverage on the key risk categories of concern--financial, operational, reputational, and strategic--along with practical tips on how to handle risks that overlap across categories. Enterprise Risk Management Best Practices proceeds to walk you through the entire process of crafting ERM architectures and setting up ongoing monitoring and assessment processes. A must-read for CFOs, controllers, finance executives, auditors, IT managers, and consultants who want to curtail surprises and losses as well as capitalize on business opportunities, Enterprise Risk Management Best Practices delves deeply into: The value and benefits of ERM Corporate governance: roles and responsibilities The role of IT in ERM The ERM process, step by step COSO framework Financial reporting competencies Whistleblower programs Financial reporting objectives and risk Moving beyond and reevaluating initial compliance Available tools in assessment and ongoing compliance Key challenges you may face along the way Best practices for a successful ERM initiative International financial reporting standards Key elements of an effective IFRS implementation Cost minimization and control optimization insights and strategies Even a minimal investment in risk assessment and risk management can improve efficiency and reduce losses in your organization. Let Enterprise Risk Management Best Practices guide you through a successful ERM program tailored to suit your companys unique needs. Author Biography ANNE M. MARCHETTI has twenty-five years of finance and accounting experience in both private industry and public accounting. She is a Sarbanes-Oxley subject matter expert focused on the design, implementation, analysis, and optimization of internal control systems and corporate governance programs. Ms. Marchetti has worked globally with both public and private entities in most industries as well as organizations of all sizes. She regularly interacts with Big Four, middle market, and local external audit firms as a liaison on behalf of these organizations. She is a member of the AICPA faculty and is the author of Beyond Sarbanes-Oxley Compliance: Effective Enterprise Risk Management and Sarbanes-Oxley Ongoing Compliance Guide, both published by Wiley. Table of Contents Preface xi Chapter 1: Overview of Enterprise Risk Management 1 ERM Introduction 1 Guidance: History and Relationship 3 Organization View 5 ERM Today 7 Increased Pressure to Manage Risk 9 Additional evidence 10 Perceived Barriers to Risk Management 11 Building the Business Case for ERM: Value and Benefi ts 11 Keys to Success 13 Summary 15 Notes 16 Chapter 2: Corporate Governance and Roles and Responsibilities 17 Board Behavior 18 Corporate Culture 19 Roles and Responsibilities 20 Summary 23 Chapter 3: ERM Defined 25 Definitions and Concepts 28 Risk Categories 30 Internal Environment 31 Summary 34 note 34 Chapter 4: The ERM Process Step by Step 35 Step 1 Strategy and Objective Definition 36 Step 2 Event Identification 38 Step 3 Risk Assessment 40 Step 4 Risk Response 41 Step 5 Communication 45 Step 6 Monitoring 46 Oversight 47 Summary 47 Notes 48 Chapter 5: COSO Framework and Financial Controls 49 Focus on Financial Controls 49 Control Environment 52 Integrity and Ethical Values 53 Board of Directors 55 Managements Philosophy and Operating Style 57 Organizational Structure 57 Financial Reporting Competencies 58 Authority and Responsibility 59 Human Resources 60 Summary 61 Notes 62 Appendix 5A: Excerpt from a Code of Ethics Policy 63 Our Guiding Principles and Values 64 Conflicts of Interest 64 Confidential Information; Intellectual Property 65 Appendix 5B: Whistleblower Program 67 Reports Regarding Accounting Matters 67 Investigation of Suspected Violations 68 Discipline for Violations 68 Appendix 5C: Approval Policy and Procedures 69 Policy 69 Purpose 69 Scope 69 Approvals/Documentation 70 Chapter 6: Financial Controls and Risk Assessment 74 Risk Assessment 74 Financial Reporting Objectives 75 Financial Reporting Risks 76 Fraud Risk 77 Entity-Level Controls 83 Example: Risk Assessment and Financial Controls 84 Evaluating Deficiencies 86 Summary 87 Notes 87 Appendix 6A: Entity-Level Control Assessment 88 Control Assessment Overview 88 Control Environment 90 Overall Evaluation of Control Environment 95 Risk Assessment 96 Overall Evaluation of Risk Assessment 98 Control Activities 99 Overall Evaluation of Control Activities 100 Information and Communication 101 Overall Evaluation of Information and Communication 104 Monitoring 105 Overall Evaluation of Monitoring 108 Summary Assessment 109 Overall Assessment of Internal Controls 110 Appendix 6B: Accounts Payable Preliminary Controls Assessment Questionnaire 111 Purchasing Controls Questionnaire 111 Internal Control Assessment 112 Appendix 6C: Fraud Risk Factors: AU Section 316 114 Risk Factors Relating to Misstatements Arising from Fraudulent Financial Reporting 114 Chapter 7: Ongoing Compliance Overview 120 Origin of the Sarbanes-Oxley Act 120 Generating Value from Compliance 121 Moving Beyond Initial Compliance 123 Reevaluating the Compliance Program 125 Summary 131 Chapter 8: Ongoing Compliance Challenges 132 Future State Opportunity: Compliance Optimization 133 Issues to Consider When Optimizing Compliance 136 Ongoing Compliance Plan 138 Role of Internal Audit: Balancing the Compliance and Audit Functions 143 Evolving Role of the Audit Committee 145 Summary 148 Chapter 9: Addressing Compliance and Risk Management Challenges through Automation 149 Software Can Add Value Beyond Compliance 151 Monitoring Software 152 Utilization of Continuous Monitoring: Control Testing and Control Automation 153 Benefits of Continuous Monitoring 154 Continuous Monitoring Tool Considerations 155 Continuous Monitoring Process 155 Risk Management Software 157 Unifying Financial Statements, Close Tasks, and SOX Controls 159 Determining the Right Solution 159 Summary 161 Note 161 Chapter 10: Ongoing Compliance and IFRS 162 International Financial Reporting Standards 162 Communicating the Impact 164 Preparing for IFRS 166 Comprehensive IFRS Transition Approach 167 Key Elements of an Effective IFRS Implementation 170 Summary 172 About the Author 173 Index 175 Long Description Guard your organization from losses with this ultimate, step-by-step guide to risk management Myth: Implementing an ERM program is a long, painful process Myth: An ERM program is too expensive to sustain Myth: An ERM program has minimal perceived value Fact: Enterprise Risk Management Best Practices takes you step-by-step through the entire process of getting a cost-effective risk management program up and running in any organization, regardless of its size, structure, and culture. Written by Sarbanes-Oxley expert Anne Marchetti, Enterprise Risk Management Best Practices proves that you do not need a huge investment of time, expertise, resources, and dollars to build, design, and ?sustain an effective ERM program that shields you from risk and allows you to act on profitable opportunities. Addressing the development of programs in two major areas enterprise risk management and ongoing compliance Enterprise Risk Management Best Practices provides a simplified explanation of related concepts to help demystify this deceptively easy-to-execute program. In this hands-on guide, youll discover how to: Assign roles and responsibilities through a corporate governance/organizational framework Use risk management offensively instead of the more common defensive reaction to incident occurrence Launch a formal company-wide risk assessment executed by the upper echelon staff Take intelligent risks through a well-designed risk management program Implement the process with step-by-step, user-friendly directions Apply the risk assessment process to your financial controls Use technology effectively in your program Optimize your companys risk profile with the user-friendly tools and strategies found in Enterprise Risk Management Best Practices. Details ISBN0470917407 Series Wiley Corporate F&A Year 2011 ISBN-10 0470917407 ISBN-13 9780470917404 Format Hardcover Subtitle From Assessment to Ongoing Compliance DEWEY 658.155 Media Book Short Title ENTERPRISE RISK MGMT BEST PRAC Language English Illustrations Illustrations Series Number 561 Edition 1st Pages 192 Publication Date 2011-11-18 AU Release Date 2011-11-18 NZ Release Date 2011-11-18 US Release Date 2011-11-18 UK Release Date 2011-11-18 Author Anne M. Marchetti Publisher John Wiley & Sons Inc Imprint John Wiley & Sons Inc Place of Publication New York Country of Publication United States Audience Professional & Vocational We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! 30 DAY RETURN POLICY No questions asked, 30 day returns! FREE DELIVERY No matter where you are in the UK, delivery is free. 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