Enterprise Risk Management and COSO: A Guide for Directors, Executives and Practitioners / Edition 1

Enterprise Risk Management and COSO: A Guide for Directors, Executives and Practitioners / Edition 1

by Harry Cendrowski, William C. Mair
     
 

The importance of risk management has increased in recent years as numerous accounting scandals, financial crises, and billion-dollar frauds have caused investors and organizations to lose large amounts of wealth. While practitioners, academia, and regulators have sought to define risk and develop a framework for analyzing it, an understandable, transparent

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Overview

The importance of risk management has increased in recent years as numerous accounting scandals, financial crises, and billion-dollar frauds have caused investors and organizations to lose large amounts of wealth. While practitioners, academia, and regulators have sought to define risk and develop a framework for analyzing it, an understandable, transparent approach has largely eluded directors and executives. Enterprise Risk Management and COSO introduces a holistic risk assessment methodology, building upon the original COSO framework and COSO's subsequent enterprise risk management publication. This methodology allows managers and risk assessment practitioners to accurately measure the levels of enterprise risk.

To better serve this mission, the book is divided into two sections. The first section introduces key tenets of enterprise risk management at a high level for directors and executives. The second section details quantitative risk management models for risk assessment practitioners. Within this latter section, the book presents a unique methodology to help organizations better understand and quantify the risks they face. This methodology serves as an invaluable guide to quantifying and assessing risks within selected groups of enterprise systems.

Enterprise Risk Management and COSO thoroughly provides clear-cut guidance on relevant topics including:

  • Implementing successful enterprise risk management strategies
  • Scalable methodologies for quantifying risks
  • Verifiable predictive models of risks
  • Risk analysis procedures
  • Risk mitigation

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Product Details

ISBN-13:
9780470460658
Publisher:
Wiley
Publication date:
12/02/2009
Edition description:
New Edition
Pages:
335
Sales rank:
1,264,953
Product dimensions:
6.46(w) x 9.35(h) x 1.17(d)

Table of Contents

About the Contributors.

Acknowledgments.

Preface.

SECTION I ORGANIZATIONAL RISK MANAGEMENT.

Chapter 1 An Introduction to Risk.

Chapter 2 Key Tenets of Enterprise Risk Management.

Chapter 3 Mitigating Operational Risks Through Strategic Thinking.

Chapter 4 Mitigating Risk in Internal Investigations and Insurance Coverage.

SECTION II QUANTITATIVE RISK MANAGEMENT.

Chapter 5 Recognized Control Frameworks: COSO-IC and COSO-ERM.

Chapter 6 Other Control Frameworks.

Chapter 7 Qualitative Control Concepts.

Chapter 8 Quantitative Control Relationships.

Chapter 9 Excel Applications.

Chapter 10 Interdependent Systems.

Chapter 11 Documentation.

Chapter 12 The Process for Assessing Internal Control.

Chapter 13 Monitoring Internal Controls.

Chapter 14 Accounting Policies and Procedures.

Chapter 15 Business Process Applications.

Chapter 16 General and Infrastructure Systems.

Chapter 17 Trusted System Providers.

Chapter 18 Reporting on Internal Control.

Chapter 19 Review and Acceptance of Assessments.

Glossary.

Appendix: Internal Control Sections of the Sarbanes-Oxley Act.

Index.

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