Executive Management

“The second edition report from ERM Initiatives at NC State University with the AICPA provides insight on how boards and senior management teams are responding to the challenges of risk oversight in the current economic state. Increased pressures to strengthen risk oversight have pushed some (executive) management teams to implement an ERM approach to risk…. The report indicates that over 76% of respondents indicated that key risks are being communicated on an ad hoc basis at management meetings and that almost 70% noted that management does not report the entity’s top risk exposures to the board of directors. About half (48%) admit that they are not at all satisfied or are minimally satisfied with the nature and extent of reporting to senior executives of key risk indicators.” (ERM Initiative NC State University February 1, 2010 )