tag:blogger.com,1999:blog-6452389006521661357.post846470932844862993..comments2024-03-12T23:42:29.203+08:00Comments on Causal Capital: Board Level Risk Reports Need To ChangeCausal Capitalhttp://www.blogger.com/profile/10919572283927557081noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-6452389006521661357.post-50041758280898051012017-01-23T23:27:33.082+08:002017-01-23T23:27:33.082+08:00Thanks, very interesting article and great solutio...Thanks, very interesting article and great solution/approach for board level reporting. I think many firms are not yet ready for the "Risk Effect Network"..<br /><br />Thanks again.<br />Best,<br />AntonioAntonio Caldashttp://riskmanagementguru.comnoreply@blogger.comtag:blogger.com,1999:blog-6452389006521661357.post-77142677376923069432016-03-21T22:17:18.759+08:002016-03-21T22:17:18.759+08:00Board level reports should show inherent and resid...Board level reports should show inherent and residual risk, control effectiveness, control gaps and recommended improvements that could be made to modify the prevailing risk profile the company is facing.<br /><br />It is important to note that there is rarely a place where zero risk can be found or in the context of control management, 100% control effectiveness. Risk managers should not be striving for 100% control effectiveness nor should they be setting these expectations.<br /><br />The big question here is, how to represent all this information in an easy to accommodate diagram. The report needs to show not just one risk but risks aggregated and it needs to assist managers form decisions on which course of action to take for a specific risk or portfolio of risks.Causal Capitalhttps://www.blogger.com/profile/10919572283927557081noreply@blogger.comtag:blogger.com,1999:blog-6452389006521661357.post-28026900340128409302016-03-21T22:09:16.853+08:002016-03-21T22:09:16.853+08:00Thank you for the article. Very interesting. My co...Thank you for the article. Very interesting. My company is already developing enterprise risk management. Many tools are considered to report the risks to the Board. We already have risk identification, by considering likelihood, impact (consequences), and effectiveness of controls. Do I have to prepare the report of risk map to the Board for the residual risks after control treatments or inherent risk before considering the controls? thanksAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6452389006521661357.post-24598976595063837462016-02-14T06:19:52.512+08:002016-02-14T06:19:52.512+08:00Great news. At least we can shift away from merely...Great news. At least we can shift away from merely cataloguing risks and assigning random scores to a more relational risk management model. However, risk management requires looking in the distant far, the new model may be appropriate to short to medium. How shall it apply to the non financial/ quantifiable risk metrics? Lets wait for the next post.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6452389006521661357.post-22277675386419608682016-01-11T15:58:57.035+08:002016-01-11T15:58:57.035+08:00Great, Article, looking forward for the ways on wh...Great, Article, looking forward for the ways on which risk and finance will be integrated for objective reporting to the board.ekkyhttps://www.blogger.com/profile/11545823308549637211noreply@blogger.comtag:blogger.com,1999:blog-6452389006521661357.post-40441082303923110712016-01-10T18:06:06.370+08:002016-01-10T18:06:06.370+08:00Interesting article, food for thought; looking for...Interesting article, food for thought; looking forward to the paper and spreadsheet. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6452389006521661357.post-86279272939102539742016-01-07T22:41:16.732+08:002016-01-07T22:41:16.732+08:00Finally, anyone who understand Risk knows that the...Finally, anyone who understand Risk knows that the so called Heat Map is only a subjective vehicle to pass exposures at he stakeholders' expense that either can hinder the stakeholders' decision making activities or give false negatives (or positives) to the auditors.Anonymoushttps://www.blogger.com/profile/03588414053522141610noreply@blogger.comtag:blogger.com,1999:blog-6452389006521661357.post-55194552824692780662016-01-07T09:24:41.241+08:002016-01-07T09:24:41.241+08:00Martin - great article drawing the 2 sides of the ...Martin - great article drawing the 2 sides of the same coin together! I look forward to your next postAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6452389006521661357.post-79618393716623919332016-01-06T23:58:23.208+08:002016-01-06T23:58:23.208+08:00Finally, anyone who understand Risk knows that the...Finally, anyone who understand Risk knows that the so called Heat Map is only a subjective vehicle to pass exposures at he stakeholders' expense that either can hinder the stakeholders'decision making activities or give false negatives (or positives) to the auditors.<br /> Anonymoushttps://www.blogger.com/profile/03588414053522141610noreply@blogger.com