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ERM: Where to Go From Here.

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  • Author(s): Merchant, Kenneth A.
  • Source:
    Journal of Accountancy. Sep2012, Vol. 214 Issue 3, p32-36. 4p. 1 Color Photograph.
  • Additional Information
    • Subject Terms:
      RISK management in business; FINANCIAL risk management; RISK assessment; RISK exposure; BEST practices; STRATEGIC planning; BUSINESS planning
    • Abstract:
      The article discusses best practices for corporate enterprise risk management (ERM) with information on risk assessment practices; an integrated understanding of business risk; and the need for tools to assist companies in strategic planning for ERM processes. Topics include improved methods for measuring and prioritizing risk; the prediction of risk based on a company's historical patterns; and conceptual issues for risk management and exposure. Suggestions are presented for how companies can improve risk management through strategic business approaches. INSET: EXECUTIVE SUMMARY.