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Webcast of the Week

 Risk Oversight and the New SEC Rule
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Help Wanted: Ad of the Week

 Chief Ethics & Compliance Officer
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Event of the Week

 Is Employee Ethics Training Mandatory?
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Thought Leadership of the Week

Global survey into the integration of GRC
Courtesy of KPMG

The Resource Exchange

Sample Risk Acceptance Request
Submitted by Circuit City

Risk Inventory
Submitted by Cognizant Technology

Featured Databases

CEO, CFO Disclosure Certifications
CEO, CFO Certifications From 3,000 Cos.

Management Discussion & Analysis
Compare How Peers Disclose Risk

GRC Illustrated Series

 The IFRS Ripple Effect
The 23rd Installment in This Exclusive Series

Compensation Survey

 Compliance, Audit & Risk Compensation Survey
Empsight’s 2010 Compensation Survey is now open for participation. It is the leading source of its kind and reports on Fortune 500 and other large multinationals.

Global Integrity Survey

2009 Global Integrity Survey
Download the findings of the 2009 Global Integrity Survey, compiled by Compliance Week and sponsored by Integrity Interactive.

Recent Coverage Of Risk Assessments And ERM

Below is some of the most recent Compliance Week coverage on issues related to enterprise risk management, risk assessments, continuous auditing, the COSO guidance, and more. Don’t forget to access risk-related templates in our Resource Exchange. Also, see ERM columns by Richard Steinberg, who was involved in developing COSO’s Enterprise Risk Management—Integrated Framework.

  Title & Description Date Type of Article
1. Shop Talk: Fostering a Strong Anti-Fraud Effort
Statistics differ over whether or not fraud rises in a difficult economy. For ethics and compliance officers, however, the true answer is also somewhat beside the point: the challenges of fighting fraud are rising, regardless.
 By Jaclyn Jaeger
03/09/10 Compliance Week Coverage
2. Choosing the Right Risk-Management Framework
Every chief compliance or chief risk officer knows how a company gets started on risk management. First, senior executives and the board dodge the question. Then some risk they didn’t foresee suddenly goes sour. Then they panic and decide that enterprise risk management is the company’s salvation.
 By Melissa Klein Aguilar
03/02/10 Compliance Week Coverage
3. Risk of Failing to Understand ERM Risks
In the 1996 movie “Mother,” Albert Brooks plays John Henderson, a writer of questionable talent, who’s just been through his second divorce, due to his fundamental inability to relate to women. To probe his back-to-back marital failures, Brooks moves in with his mother, Beatrice, played by Debbie Reynolds, to examine his most important female relationship, and the source (he believes) of his problems. John and Beatrice’s relationship is unlike any mother-son relationship with which most of us are familiar, perhaps epitomized by Beatrice’s unthinking reference to John, when introducing him to friends, as her “other” son. At one point, Beatrice reassuringly offers John a rote platitude, saying, “I love you.” Not missing a beat, John caustically replies, “I know you think you do, Mother!”
 By Harvey L. Pitt, Compliance Week Columnist
02/23/10 Columns & Editorials
4. Study: ERM Programs Improving
Good news for chief risk officers: enterprise risk management programs appear to be improving.
 By Jaclyn Jaeger
02/23/10 Compliance Week Coverage
5. Brave New World of Risk Confronts Financial Firms
On Jan. 13, 2010, Compliance Week and Deloitte presented an exclusive editorial roundtable about the risk challenges facing compliance and risk executives in the financial sector. The biggest concern among participants at the forum, which was held at the The Ritz Carlton in New York City, is trying to predict what regulators want from them and how to meet regulatory demands. Moderated by CW Editor-in-Chief Matt Kelly, and featuring Deborah Parker Bailey, Director of the Governance, Regulatory & Risk Strategies Practice at Deloitte and Scott Baret, a partner with Deloitte’s Regulatory & Capital Markets division, the roundtable encouraged participants to share their concerns and offer up some solutions. The following article provides readers with a full recap of their discussion.
 By Melissa Klein Aguilar
02/02/10 Compliance Week Coverage
6. The Increasing Risk of Procurement Fraud
Of all the forms of white-collar crime, procurement fraud is probably the least visible yet the most costly. That’s largely because it’s a hidden byproduct of seemingly legitimate transactions, often involving millions of dollars, between a business and supposedly legitimate vendors. What’s more, the organizations victimized by procurement fraud often don’t report it and choose to settle privately with the alleged culprits.
 By José Tabuena
01/05/10 Columns & Editorials
7. Risk Velocity, the Unknown Dimension in ERM
Risk is a full-bodied presence in the boardroom and the C-suite, so it’s time risk management stopped being two-dimensional. Let’s add a third dimension to risk measurement.
 By Stephen Davis and Jon Lukomnik, Compliance Week Columnists
12/08/09 Columns & Editorials
8. Shop Talk: Metrics for Risk, Compliance
The following executives participated in the Nov. 17 roundtable on what metrics to use when measuring risk and compliance. The roundtable, held at the Plaza Hotel in New York City, was moderated by CW Editor-in-Chief Matt Kelly, and featured Michael Duffy, President of OpenPages. Panelists were encouraged to discuss the challenges they face when measuring risk and what metrics they have employed for top-notch enterprise risk management. The following article provides readers with an in-depth look at their discussion.
 By Jaclyn Jaeger
12/08/09 Compliance Week Coverage
9. Board of Directors’ Hot Buttons
With memories of the financial crisis still fresh in our minds and questions of “Where were the boards?” still abounding, today’s directors face extraordinary challenges.
 By Richard M. Steinberg, Compliance Week Columnist
11/17/09 Columns & Editorials
10. Survey: How Mature Is Your Compliance Function?
Chief compliance officers apparently still have lots of work ahead to turn their compliance efforts into strong, mature programs that can handle the broad range of risks corporations face.
 By Jaclyn Jaeger
11/10/09 Compliance Week Coverage
11. Grappling With the Future of Internal Audit
Without question, the internal auditing function is experiencing profound transformation these days. But transforming into what still seems a mystery.
 By Melissa Klein Aguilar
11/03/09 Compliance Week Coverage
12. New Models for Broken Board Governance System
To say that these are challenging times to be a corporate director is an understatement. Shareholders are clamoring for greater ability to determine what happens in the boardroom and who sits in the seats; the SEC is proposing a host of new rules requiring a broad range of expanded disclosures; the pace of new lawsuits continues unabated. All this occurs with memories still fresh of the financial system’s near collapse, against a backdrop of an economy still struggling emerge from the “Great Recession.”
 By Richard M. Steinberg, Compliance Week Columnist
10/20/09 Compliance Week Coverage
13. Weighing the Options of e-Discovery Programs
Controlling e-discovery costs while minimizing litigation risks are two of the greatest challenges that in-house lawyers face—challenges that most companies aren’t equipped to handle.
 By Jaclyn Jaeger
10/20/09 Compliance Week Coverage
14. S&P Plans for ERM Evaluations Falter
Standard & Poor’s much-touted plan to evaluate companies’ risk management efforts as part of its credit-rating decisions seems to have stalled, as S&P analysts figure out how to scrutinize risk management and whether it’s worth the extra burden to companies.
 By Jaclyn Jaeger
10/13/09 Compliance Week Coverage
15. Managing Risk in the Financial Sector
On Sept. 16, 2009, Compliance Week and Navigant Consulting presented an exclusive editorial roundtable about compliance practices at financial services firms. A top concern among the executives who appeared at the forum, held at The Mandarin Oriental Hotel in Boston, was how to ensure that compliance and risk-management programs keep pace with new and evolving regulatory changes in a challenging economy. Moderated by CW Editor-in-Chief Matt Kelly, and featuring Daniel Bender and John Schneider, director and managing director of Navigant Consulting, respectively, the roundtable encouraged panelists to discuss compliance challenges and solutions. The following article provides readers with an in-depth look at their discussion.
 By Jaclyn Jaeger
09/29/09 Compliance Week Coverage
16. Podcast: Future of Internal Audit
In this week’s podcast, editor Matt Kelly talks with Jonathan Marks of the audit firm Crowe Horwath about the evolving role of internal audit departments.
 		09/15/09 Compliance Week Coverage
17. Podcast: Risk-Management Proposals
Compliance Week editor Matt Kelly talks with John Farrell, head of the risk management practice at KPMG, about the SEC’s proposals to expand disclosure of risk management efforts.
 		08/31/09 Compliance Week Coverage
18. Shop Talk: The Threat of Emerging Risks
Chief compliance officers are already busy enough managing all the risks they know. But the risks they don’t know are what really worry them.
 By Jaclyn Jaeger
08/11/09 Compliance Week Coverage
19. List of Risk Advisory Firms
A compilation of firms with risk advisory practices, ranked by employees in risk management.
 By Compliance Week
06/23/09 Compliance Week Coverage
20. How to Start Your ERM Program
The global economic scene has provided a sobering reminder that risks potent enough to take down the whole enterprise are very real. And while identifying and managing those risks is a challenge, the steps to do so are essential to survival.
 By Tammy Whitehouse
06/16/09 Compliance Week Coverage
21. What Boards Should Know About Groupthink
Last month’s column described the dangers of “keeping up with the Joneses” and how businesses seeking to do so have suffered disastrous consequences. I mentioned two corollaries: the risk of blindly following supposed best practices, and of buying into “groupthink.” We explored the former risk in detail last month; this month I want to turn to the latter.
 By Richard M. Steinberg, Compliance Week Columnist
05/19/09 Columns & Editorials
22. Evaluating and Auditing Risk-Management Policies
improve
 By José Tabuena
05/12/09 Columns & Editorials
23. Red Book Alert: OCEG Revises GRC Manual
The non-profit Open Compliance & Ethics Group has released an updated version of its popular standards for corporate conduct and risk management, known as the Red Book.
 By Melissa Klein Aguilar
04/21/09 Compliance Week Coverage
24. Risk Intelligence Amid a Difficult Economy
On March 25, 2009, Compliance Week and Deloitte hosted an exclusive editorial roundtable, “Risk Intelligence in a Down Economy.” A top concern among the 19 executives who appeared at the forum, held at the New York Academy of Sciences in NYC, was how to ensure that tools and strategies already in place will be able to keep pace with the changes taking place in a failed economy. Moderated by CW Editor-in-Chief Matt Kelly, and featuring Henry Ristuccia, U.S. leader of Deloitte’s governance and risk management practice, and Mike Fuchs, principal at Deloitte, the roundtable encouraged panelists to discuss risk-management challenges and solutions. The following article provides readers with an in-depth look at their discussion.
 By Melissa Klein Aguilar
04/14/09 Compliance Week Coverage
25. The Fraud Triangle: Not Good Enough These Days
The three basic elements of fraud – opportunity, pressure, and rationalization, which make up the “fraud triangle” – were identified over 60 years ago. However, with the changing times and difficult economic conditions, a new perspective on fraud is required. Download this whitepaper “Playing Offense in a High-risk Environment,”
 By Crowe Horwath
03/30/09 Compliance Week Coverage
26. Roundtable Discusses Supply Chain Risks
These days, compliance executives may be fretting about the risks posed by the people outside of their organization just as much as (or more than) the potential dangers from their own employees. With news like the recent peanut salmonella outbreak grabbing headlines, it seems those fears are well founded.
 By Melissa Klein Aguilar
02/18/09 Compliance Week Coverage
27. Shop Talk: Best Practices on Fraud Risks
When it comes to managing fraud risk, compliance and internal audit executives say the toughest challenge isn’t winning support from the board or top management; it’s winning over everyone else in the company.
 By Melissa Klein Aguilar
12/16/08 Compliance Week Coverage
28. Risk-Management Lessons From the Credit Crisis
As the United States and the world sort through the credit crisis, and the financial markets continue to gyrate and governments craft and recraft programs in an attempt to avert disaster, one wonders what went so very wrong with those much-touted risk management systems of major financial institutions. Weren’t the big guys with the highly polished reputations supposed to have in-depth knowledge of what their risks were, and manage those risks to be profitable and sustainable? How did they, and we, end up here?
 By Richard M. Steinberg
11/18/08 Columns & Editorials
29. Companies Urgently Search for Hidden Risks
The phones are ringing off the hook at risk-management consultancies these days. So far, however, it’s just a lot of window-shopping.
 By Tammy Whitehouse
11/04/08 Compliance Week Coverage
30. Debunking SOX Theories One Misconception at a Time
Having worked with many boards of directors, it’s clear that most directors now understand what Sarbanes-Oxley is all about. They’ve spent the last few years dealing with many of its provisions, with audit committees spending significant time on Section 404’s internal control requirements. Some initially lost sight of other important responsibilities, although generally boards have returned to a more balanced approach of providing effective advice, counsel, and direction on strategic business issues in addition to their compliance monitoring roles.
 By Richard M. Steinberg
09/16/08 Columns & Editorials
31. When Executives Discuss ERM Challenges
Recently I had the privilege of leading a forum of senior executives experienced in risk management in a discussion of the challenges of developing, implementing, and gaining the benefits of ERM.
 By Richard M. Steinberg, Compliance Week Columnist
08/19/08 Columns & Editorials
32. Building a Strong Risk-Management Team
In one form or another, enterprise risk management has always been an essential part of an organization’s operations. But that is arguably more true today than ever before.
 By Jaclyn Jaeger
07/01/08 Compliance Week Coverage
33. S&P Starts Including ERM in Credit Ratings
Standard & Poor’s is giving companies a new financial incentive to take enterprise risk management more seriously: It will affect their credit ratings.
 By Christine Dunn
06/17/08 Compliance Week Coverage
34. Auditing Your ERM Program
Everyone talks about the need for good risk-management programs, but nobody seems to know how to audit them to ensure they actually work.
 By Dan Swanson, Compliance Week Columnist
05/06/08 Columns & Editorials
35. “For Want of a Nail”: ERM for the Regulators
During the Revolutionary Era in this country, Benjamin Franklin printed an old English rhyme in his Poor Richard’s Almanack that touted the benefits of preparedness and preparation:
 By Harvey L. Pitt, Compliance Week Columnist
04/29/08 Columns & Editorials
36. ERM vs. Risk Assessment: An Analysis
Ever wonder what the risk is that you’ve wrongly assessed how you’re supposed to do risk assessments?
 By Jaclyn Jaeger
03/18/08 Compliance Week Coverage
37. Why It’s So Shocking Societe Generale Was Shocked
By now we’ve all seen the headline—“French Bank Rocked by Rogue Trader!”—heralding the debacle at Societe Generale as the largest bank fraud in history.
 By Richard M. Steinberg, Compliance Week Columnist
02/20/08 Columns & Editorials
38. Banks Bring Basel II to Risk Management
As investors around the world cope with the fallout of the sub-prime mortgage crisis in the United States, financial institutions are getting a stern regulatory reminder of the importance of monitoring operational and credit risk, via the implementation of Basel II.
 By Christine Dunn
02/12/08 Compliance Week Coverage
39. Risk Management Falters, and M&A Cools
Mergers and acquisitions have been a mainstay of Corporate America for more than a decade, first as sky-high stock prices and then a flood of private equity gave companies oodles of purchasing power to do deals—the bigger, the better.
 By Elizabeth Judd
02/05/08 Compliance Week Coverage
40. When the Raters Start Rating ERM
If companies outside of the financial services and insurance industries need another reason to care about enterprise risk management, they now have one: It could affect their credit ratings.
 By Melissa Klein Aguilar
11/13/07 Compliance Week Coverage
41. Building ERM Bridges for Boards, C-Suite
Lots of corporate boards put enterprise risk management on their agenda in some way or another. How to flesh out the details beyond that is anyone’s guess.
 By Kathrine Schmidt
09/11/07 Compliance Week Coverage
42. Spotting FCPA Risks: A Daunting Challenge
Business opportunities abroad can be an entrepreneur’s dream. The risks of corruption and fraud overseas can be a nightmare.
 By Kathrine Schmidt
08/21/07 Compliance Week Coverage
43. Report: ERM Sinking Into Directors’ Heads
Corporate board members are devoting more time to enterprise risk management these days and taking a more aggressive approach to make headway on the sometimes-elusive goal, according to a new survey.
 By Melissa Klein Aguilar
08/21/07 Compliance Week Coverage
44. Thinking Globally, Acting Locally on ERM
Companies and boards of directors have been managing risk in various forms for a long, long time. It’s managing risk in a unified form that’s vexing them these days.
 By Jaclyn Jaeger
08/21/07 Compliance Week Coverage
45. Hedging Against the Untimely Exit of CEOs
Call it heart attack risk: the abrupt, untimely departure of a chief executive officer—which, really, can leave any number of people experiencing chest pains.
 By Caron Carlson
08/21/07 Compliance Week Coverage
46. Proof That Cos. Can Go From SOX to ERM
The stage is set for enterprise risk management. Sarbanes-Oxley forced companies to spend a great deal of time and money demonstrating oversight of financial risk—often to the point of overkill. Now, with new guidance from the Securities and Exchange Commission and the Public Company Accounting Oversight Board’s Accounting Standard No. 5, the tectonic shift from bottom-up, cover-your-tail, control-based SOX compliance to top-down, risk-based, strategic compliance officially has been blessed.
 By Todd Neff
08/07/07 Compliance Week Coverage
47. Measuring Non-Financial, Intangible Risks
Much like the homeland security chief’s latest “gut feeling” about an increased risk of a terrorist attack in the United States this summer, some risks facing businesses today can be hard to pinpoint and even harder to quantify.
 By Caron Carlson
07/31/07 Compliance Week Coverage
48. Supplier Risk: Outsourcing To China Can Get Costly
Cheap is very often expensive. That’s the lesson being learned again by companies outsourcing production to China.
 By Richard Meyer
07/31/07 Compliance Week Coverage
49. The Long, Winding Road Of Fraud Probes
Hearing the words “Securities and Exchange Commission” and “investigation” in the same sentence can strike fear in the heart of any corporate executive.
 By Melissa Klein Aguilar
07/24/07 Compliance Week Coverage
50. What Frauds Are Prevalent, And Preventable
While government officials congratulate themselves for a job well done since establishing the Corporate Fraud Task Force five years ago, experts tell Compliance Week that institutional fraud is still a rampant problem.
 By Jaclyn Jaeger
07/24/07 Compliance Week Coverage

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