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Technical

5 Tips for Developing a Successful Enterprise Risk Management Program Logo aicpa

  Tom Patterson, CPA |   Free |   AICPA |   11 Jan 2016 |   AICPA Insights

Is your organization looking to enhance its enterprise risk management program? This blog post provides some advice to help you get started.

Topics covered:
  • Management accounting: Business: Strategy, Foundational
  • Management accounting: Technical: Risk management & internal control: Risk management policies & procedures, Foundational
  • Management accounting: Technical: Risk management & internal control: Risk response & reporting, Foundational

6 Comments/Reflections

Bipin Hathi

Bipin Hathi Jun 2018

Good example of how ERM was carried out at IBM. The 5 tips are useful and getting management buy in is essential for this to succeed in any organisiation.
Angella Masikini - Phiri

Angella Masikini - Phiri Jan 2017

The article was simple and highlighted the steps needed for any organization to develop an ERM program. It highlights how important it is for the organization to align its assets, people, activities and goals to create business value and competitive advantage.

I have learnt how important it is to get buy in from the management and across the entire organization and get participation of all staff. 
My current role involves identifying and reporting on risks affecting my particular department this article has helped me look at the bigger picture and I am now aware of what needs to be done at the executive level to ensure my section or department has a risk aware culture.

The next step is to learn more on analytics in risk management so I can assist my organization by suggesting ways it can be incorporated as part of the organizations ERM.
Tendai Nyakurimwa

Tendai Nyakurimwa Oct 2016

The article helps a lot in guiding organisations intending to implement an ERM strategy. It is always a good idea to get a buy in from top managers. It is also important to create a culture of risk awareness throughout the organisation.
I hope to use the knowledge in assisting implementing risks strategies whenever the need arises.

Lianda Van Zyl

Lianda Van Zyl May 2016

Enterprise management Risk

I have learned that more and more focus is directed to Risk.


The 5 points that are needed:

1 Upper Management Buy-in

2 ID risk owners - not just one person

3 Risk aware culture - all employees need to be aware

4 Teams not just a core team to assess and handle risk

5 Risk management is an on going process


Information => Most precious technical resource
Ravinder Kaur

Ravinder Kaur May 2016