Auditing Business Risks

controlling risks

In this Commentary, we examine two corporate catastrophes which occurred within the last year, focusing on the damage done and on the ensuing personal risk to the directors and officers (D&O’s). In both cases, D&O’s failed to identify, manage and act on protection for stakeholders against the key risks. At the conclusion, we provide a call-to-action on what can be done by corporate leaders in prevention of similar occurrences, i.e. regular audits of business risks and following the five basic steps in risk management.

How could these situations have been prevented? Read more…

Gain Competitive Advantage Through Enterprise Risk Management

 

ERM-diagram-1

On June 2nd, 8:30 am-noon  at the Albany Club in Toronto, at a session of the Canadian Society of Corporate Secretaries, I will be joined by John Fraser from Hydro One, and we’ll be jointly speaking on Enterprise Risk Management (ERM). Proactive organizations world-wide are gaining a competitive advantage through ERM, by targeting objectives with more certainty.

This instructional session will assist organizations to manage risk better, and will be appropriate for senior executives and board members who wish to understand ERM and how it can benefit their organizations.

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Escalating Management and Directors Liabilities

Gavel

In This Issue: Escalating Management and Directors Liabilities

Next week on May 13th, I will be on a panel addressing Directors Liabilities at a session being put on by the Institute of Corporate Directors. I’d encourage you to attend. The session will cover strategies for directors to limit their liabilities by making sure they take appropriate steps, by not only fulfilling their fiduciary duties, but also ensuring they have appropriate liability insurance coverage to protect themselves (register).

Read more…