Under Control: Governance Across the Enterprise

4.5. Conclusion

Risk management is one of the most important functions of a business and key to good governance. Effective risk management needs to permeate—and be an essential part of—all of the enterprise's critical business processes and strategic decisions. You only have to look at the recent financial crisis to see numerous examples of horrendous risk management decisions and oversights that had a catastrophic effect on companies, on the economy as a whole, and therefore on each one of us. More effective risk management, coupled with some anticipated regulatory changes and other governance improvements, may help prevent a recurrence. Similarly, improved enterprise risk management methods and practices can help ensure that your organization ...