The COSO Framework for Internal Control
February 12, 2025
What is Compassionate Capitalism and What Does it Entail for us? In recent years, there has been much talk about Capitalism evolving into a model of economy wherein corporations ensure that communitarian and people oriented business models are embraced so that profit is not the only criterion or reason why they are in business. In […]
Merely creating a model which calculates the value at risk (VaR) i.e. the greatest possible loss that a company can face in a particular time period is not enough. In order for risk management to be effective, the results provided by the model should actually correlate with reality. Otherwise, the model will make predictions that […]
The question that is uppermost on business leaders’ mind is how to foster an inclusive environment as the current environment in the business world is about not tolerating harassment and discrimination. For instance, in recent years, there has been some high profile cases involving senior management figures in the US and in India in matters […]
Leadership development entails nurturing, encouraging, incubating, and mentoring prospective leaders. In many organizations, the HR department in conjunction with senior management identifies potential leaders or fast trackers who are capable and ensures that they are motivated and encouraged to give their best. This form of mentoring and coaching of future leaders happens through organizational commitment […]
Once an organization decides to go for Enterprise Risk Management, the challenge is the implementation. At the ground level there are lots of considerations in successful implementation of the same. These considerations vary with the organizations; however the following more or less remain the same: ERM Champion: First and foremost, considering the challenges an individual […]
Various organizations have laid down principles for risk management. There are risk management principles by International standardization Organization and by Project Management Body of Knowledge.
The Project management body of knowledge (PMBOK) has laid down 12 principles. This article carries an amalgamation of both PMBOK and ISO principles. The various principles are:
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