MANY ORGANIZATIONS STRUGGLE with the development and implementation of an enterprise risk management (ERM) program. Most are overwhelmed by the task. They believe they do not possess the expertise, resources, time, and/or dollars required to effectively design and build an effective risk management program. In addition, there is minimal perceived value in this activity.

My objective for this book is to demystify ERM and the risk management process in order to eliminate implementation apprehension. The goal is to simplify the explanation of related concepts and provide guidance that demonstrates a practical, cost-effective process that can be utilized by any organization.

The material addresses the development of programs in two major areas: ERM and ongoing compliance. Chapters 1 through 3 provide an introduction and overview of ERM including important components of the process as well as a corporate governance/organizational framework and definitions of roles and responsibilities.

Chapter 4 provides a detailed description of the ERM process and includes suggestions regarding implementation. Chapters 5 and 6 present an in-depth review of financial controls, including an example of the application of the risk assessment process relative to this risk category.

Chapters 7 through 10 address ongoing compliance challenges and provide insight into cost minimization and control optimization including the effective use of technology as well as future International Financial Reporting ...

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