Auditing the Risk Management Process

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John Wiley & Sons, Jul 29, 2005 - Business & Economics - 208 pages
Risk management is a part of mainstream corporate life that touches all aspects of every type of organization. Auditors must focus firmly on risk: risk to the business, the executives, and the stakeholders. Auditing the Risk Management Process incorporates all the latest developments in risk management as it applies to auditors, including the new Committee of Sponsoring Organizations of the Treadway Commission (COSO) enterprise risk paper. Auditing the Risk Management Process includes original risk maps and process models developed by the author, explaining where and how topics fit within an overall audit framework, all the latest developments in risk management as it applies to auditors, and insight into how enterprise risk management affects the responsibilities of both internal and external auditors.
 

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Contents

Chapter 1 WHY RISK MANAGEMENT?
1
Chapter 2 DETERMINING RISK MANAGEMENT MATURITY
33
Chapter 3 ENTERPRISEWIDE RISK MANAGEMENT
69
Chapter 4 RISK APPETITE
97
Chapter 5 CONTROL RISK SELFASSESSMENT
117
Chapter 6 DEVELOPING AN AUDIT APPROACH
141
Chapter 7 THE ILLUSION OF PERFECTION
177
Chapter 8 A HOLISTIC ERM CONCEPT
203
Appendix A APPLYING AN ERM DIAGNOSTIC TOOL
225
INDEX
265
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About the author (2005)

K. H. SPENCER PICKETT is a senior lecturer in internal auditing at the Civil Service College in Berkshire, England. He delivers courses for internal auditors as part of their requirement to attain the government internal audit standard and prepares students for the Institute of Internal Auditors (IIA) examinations at the practitioner and professional levels. He has authored or coauthored several books, including Internal Control: A Manager's Journey; The Internal Auditor at Work: A Practical Guide to Everyday Challenges; Financial Crime Investigation and Control; and The Internal Auditing Handbook, Second Edition (all published by Wiley).

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