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September 2009 |  BY STEVEN L. MINTZ |  Article

Coping with a downturn often means restructuring for companies. Every restructuring has many moving parts—including layoffs, impairments, asset revaluations and debt relief. To engineer a favorable outcome, stay ahead of events, says Scott Davis, a partner in the Corporate Advisory and Restructuring Services practice at Grant Thornton. He offers these tips Conserve cash.

September 2009 |  BY MARK S. BEASLEY, CPA, PH.D., BRUCE C. BRANSON, PH.D., BONNIE V. HANCOCK, M.S. |  Article

As the result of fallout from the ongoing economic crisis, failures associated with existing risk management processes are already generating calls for reform and increased regulatory scrutiny. SEC Chairman Mary Schapiro said in an April 2009 speech to the Council of Institutional Investors that “the Commission will be considering whether greater disclosure is needed about how a company—and the company’s board in particular—manages risks, both generally and in the context of setting compensation.” In July 2009, the SEC issued its first response through proposed rules that expand proxy disclosure information about the overall impact of

September 2009 |  Article

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) on Tuesday published a document to help boards of directors strengthen their oversight of enterprise risks. The fourpage paper, Effective Enterprise Risk Oversight The Role of the Board of Directors, calls attention to COSO’s Enterprise Risk Management—Integrated Framework (2004) and its definition of ERM.

July 2008 |  BY Susan M. Sorensen, Donald L. Kyle |  Article

EXECUTIVE SUMMARY Accounting for currency translation risks can be very complex. This article addresses only the basics and provides some tools to help the reader understand the issues and find resources. Globalization has changed the old accounting rule that debits equal credits. Net income became just one part of comprehensive income, and the equity part of the accounting equation became Equity Stock Other Comprehensive Income Retained Earnings.

June 2008 |  BY Arnold H. Schanfield, Dan Helming |  Article

We are offering additional commentary on the article titled “Rising Expectations Audit Committee Oversight of Enterprise Risk Management” (April 08, page 44). I am an internal audit director and parttime NYU faculty member running an ERM consulting business in New Jersey, together with another practitioner and colleague in New York.

June 2008 |  BY Tamara Bekefi, Marc J. Epstein, Kristi Yuthas |  Article

Authors’ Note This article is based on Managing Opportunities and Risks , a Management Accounting Guideline written by Tamara Bekefi, Marc J. Epstein and Kristi Yuthas and published by the AICPA, the Society of Management Accountants of Canada and the Chartered Institute of Management Accountants. AICPA members can download all Management Accounting Guidelines here for free.

April 2008 |  BY Mark S. Beasley, Bruce C. Branson, Bonnie V. Hancock |  Article

Recent events such as the massive trading losses at Societe Generale, the subprime lending crisis and product recalls associated with Mattel's international toy manufacturing operations continue to shock financial markets and negatively impact shareholder value. These events have also fostered rising expectations for boards of directors to exert greater oversight of their organizations' risk management processes, leading in turn to the growth of enterprise risk management (ERM) as a strategic planning tool.

March 2008 |  BY Paul L. Walker, William G. Shenkir |  Article

Managing risk is imperative for successful leadership in today’s business world. Leaders must develop processes like enterprise risk management (ERM) to improve their ability to manage risks effectively. ERM cuts across an organization’s silos to identify and manage a spectrum of risks. Consider these ERM action items Resolve to proactively manage risks , rather than react to them.

February 2008 |  Article

More than half (55) of risk, audit and finance executives said their corporate boards are leading ERM (enterprise risk management) programs, up from 49 in 2004, according to a report from The Conference Board. Onethird of participants serving a core business function—legal, CFO, CEO or corporate board member—considered ERM to be of critical importance to their business.