Boards Driving Enterprise Risk Management


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.

One-third of participants serving a core business function—legal, CFO, CEO or corporate board member—considered ERM to be of critical importance to their business.

But efforts to implement ERM programs are still in early stages, such as creating a risk inventory and the assessment process. ERM maturity is the greatest in select industries, including financial services, energy and utilities, but the health care sector has seen rapid growth in ERM in recent years.

The report, sponsored by Oliver Wyman, a global management consultancy, is based on a survey of executives of 200 companies and is available at www.conference-board.org . For more information on the standards and responsibilities associated with ERM, see “Enterprising Views of Risk Management,” JofA , June 04, page 65.

Source: Risky Business: Is Enterprise Risk Management Losing Ground? , The Conference Board, www.conference-board.org , and Oliver Wyman, www.oliverwyman.com.

SPONSORED REPORT

Revenue recognition: A complex effort

Implementing the new standard requires careful judgment. Learn how to make significant accounting judgments and document them and collaborate with peers for consistent application.

TECHNOLOGY Q&A

How to create maps in Excel 2016

Microsoft Excel 2016 has two new mapping capabilities. J. Carlton Collins, CPA, demonstrates how to make masterful 2D and 3D maps in Excel 2016.

QUIZ

News quiz: Economy and health care changes top CPAs’ list

CPA decision-makers’ economic outlook and the House Republicans’ proposed tax changes as part of replacing the Patient Protection and Affordable Care Act received attention recently. See how much you know with this short quiz.