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More Thoughts on How Boards Address Risk Management

Matt Kelly | October 25, 2015

Last week I wrote two columns: one on audit committees and the language in their charters that talks about risk; and another about Deutsche Bank’s new effort to improve its culture, and why large businesses seem to have cultures that tolerate misconduct.

I received plenty of feedback on both columns. On the piece about audit committee charters and how rarely they use the word “risk,” numerous people said a simple count of how often the word “risk” appears in the charter isn’t fair; audit committees talk plenty about risk behind closed doors, even if the charter doesn’t spell out how they should think about risk.

On the piece about Deutsche Bank—where I tried to tease out the flaws in large companies that leads to bad culture,...

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