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NON-EXECUTIVE MANAGEMENT

Do you need extra expertise on an ad-hoc basis to help with your project related challenges and problems?

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RISK MANAGEMENT HEALTH CHECK

Are you in control of your risks ... or are they controlling you? When did you last check that your project and system related risk processes are still fit for purpose?

INSIGHT BLOG

Cost of risk management failures often underestimated

riskmanagementminiThe sixth peer review of the OECD Principles of Corporate Governance analyses the corporate governance framework and practices relating to corporate risk management, in the private sector and in state-owned enterprises. The review covers 26 jurisdictions and is based on a general survey of all participating jurisdictions in December 2012, as well as an in-depth review of corporate risk management in Norway, Singapore and Switzerland.

The report finds that while risk-taking is a fundamental driving force in business and entrepreneurship, the cost of risk management failures is often underestimated, both externally and internally, including the cost in terms of management time needed to rectify the situation. The report concludes that corporate governance should ensure that risks are understood, managed, and, when appropriate, communicated.

More… http://www.oecd-ilibrary.org/governance/risk-management-and-corporate-governance_9789264208636-en

Copyright © OECD. All rights reserved.

 

Apr 13 2014

Risk Management

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