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COSO

This tag is associated with 3 posts

The profession that knows it all

By ⋅ 29 November 2012 ⋅ One comment

The theme which underpins Clouds of Vagueness is the inherent difficulty of mastering an uncertain future and the inadequacy of our standard risk management techniques to help with this.  So I was delighted to see the paper by Michael Power of the LSE in the journal Accounting, Organisations and Society, with the provocative title The risk management of […]

Risk appetite – a bad idea

By ⋅ 27 November 2012 ⋅ Post a comment

It’s a truism that you can’t do anything – or even nothing – without taking risk.  This is an important issue for all organisations, but the discussion of what risk to take has become unnecessarily obscured.  Specifically it has become bogged down in the unhelpful concept of ‘risk appetite’ and this has added to the […]

COSO on risk appetite – reaching for the ideal

By ⋅ 20 November 2012 ⋅ Post a comment

COSO have also issued guidance on the ‘risk appetite’ to go along with that of the  IRM and other authorities.  I think it’s a good example of  how risk appetite would be dealt with in an ideal world.  By this I mean a world with two characteristics: you could decide how much risk you wanted to dial […]

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