3 things to look for when auditing risk management

Alex Sidorenko from RISK-ACADEMY talks about three things to review when auditing risk management effectiveness in non-financial companies:

 

DOWNLOAD THE FREE RISK MANAGEMENT BOOK: https://www.risk-academy.ru/en/download/risk-management-book/

Watch more free risk management videos on RISK-ACADEMY youtube channel https://www.youtube.com/user/alexausrisk

 

Check out other risk management books

Fundamentals of Risk Management: Understanding, Evaluating and Implementing Effective Risk Management
The Standard for Risk Management in Portfolios, Programs, and Projects
Implementing Enterprise Risk Management: From Methods to Applications (Wiley Finance)

– – – – – – – – – – – – – – – – – – – – –

RISK-ACADEMY offers decision making and risk management training and consulting services. Our corporate risk management training programs are specifically designed to promote risk-based decision making and integrating risk management into business processes. Risk managers all over the world call us in to help sell idea of integrating risk analysis into decision making and using quantitative risk analysis techniques. Check out most popular course for decision makers https://riskacademy.blog/product/risk-based-decision-making-executives/ or our dedicated programs to help risk managers learn the foundations of quant risk analysis https://riskacademy.blog/product/risk-managers-training/. We can also help audit risk management effectiveness or develop a roadmap for risk management integration into decision making https://riskacademy.blog/product/g31000-risk-management-maturity-assessment/ 

RISK-ACADEMY offers online courses

sample85
+ Buy now

Informed Risk Taking

Learn 15 practical steps on integrating risk management into decision making, business processes, organizational culture and other activities!

19,999,99
sample85
+ Buy now

ISO31000 Integrating Risk Management

Alex Sidorenko, known for his risk management blog http://www.riskacademy.blog, has created a 25-step program to integrate risk management into decision making, core business processes and the overall culture of the organization.

199,999,99
sample85
+ Buy now

Управление рисками

В этом коротком и очень увлекательном курсе, Алексей Сидоренко расскажет о причинах внедрения риск менеджмента, об особенностях принятия управленческих решений в ситуации неопределенности и изменениях в новом стандарте ИСО 31000:2018.

19,999,99

3 thoughts on “3 things to look for when auditing risk management

  1. HI Alex,

    I agree with this … except, that if you audit (and you can) and find that risk management on #2 and #3 are well done, you are highly likely to perform well on #1 as well. The add-on value you have in #1 is the effect of an Enterprise Risk Management which is focused on identifying and effectively addressing new risks imposed from outside the company – assuming everything that happens within the company is covered by your risk managed decision making.

    In short …
    Decision focused risk management ensures decisions are optimized and well executed
    Enterprise Risk Management drives decisions to be made based on [external] events or developments

    1. Seems a bit over complicating. Decision focused risk management covers anything and everything to do with decisions, hence with doing business. We could stop there, but we have auditors and regulators who think they know better. So ERM must be satisfying whatever next bs they come up with.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.