Auditing the Risk Management Process: 5 (IIA (Institute of Internal Auditors) Series) - Hardcover

Pickett, K. H. Spencer

Hardcover

ISBN 10: 0471690538 ISBN 13: 9780471690535

Publisher: Wiley, 2005

Synopsis

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.

About this title

About the Author

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).

From the Back Cover

Target risk in your organization

Risk management is now a part of mainstream corporate life that touches all aspects of every type of organization. Auditors must now focus firmly on risk: risk to the business, risk to the executives, and risk to the stakeholders. Auditing the Risk Management Process incorporates all the latest developments in risk management as it applies to auditors, including the new The 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
• Insight into how enterprise risk management affects the responsibilities of both internal and external auditors

Learn to navigate the risks your corporation faces today, and tomorrow, with the able guidance found in Auditing the Risk Management Process.

From the Inside Flap

Until recently, traditional risk management methodology was viewed as a series of benchmarks to be reviewed, checked off, and filed away for the following year. This laid-back system left many loopholes for corruption. Reckless trading, against the backdrop of the cutthroat competition of the 1990s into 2000 and beyond, forced regulators to get tough. The advent of enterprise risk management has brought about a dramatic change in the philosophy of risk management, making back office checking teams an important corporate resource, with a new focus on identifying and evaluating significant exposures to risk. This new approach encourages all employees to play a role in improving risk management and control systems.

Auditing the Risk Management Process brings together the latest thinking and guidance on internal control and how it pertains to the audit function to help readers implement effective enterprise risk management throughout all facets of their organizations. The first book in the new Practical Auditor Series cobranded with the Institute of Internal Auditors Auditing the Risk Management Process deftly illustrates how the growing trend in enterprise risk management affects the responsibilities of both internal and external auditors.

Author K. H. Spencer Pickett provides a wealth of practical guidance and tools, including his personally developed risk maps and process models, to help auditors fully understand the overall audit framework and reporting process, while complying with the demand for a higher standard of risk transparency enforced by Sarbanes-Oxley.

Written primarily for internal auditors, Auditing the Risk Management Process is also a useful tool for external auditors, compliance teams, financial controllers, consultants, and others involved in reviewing governance, risk, and control systems, as well as executives, managers, and staff as they are increasingly being asked to review their systems of internal control and ensure that there is a robust risk management process in place in all types of organizations.

Don't let your organization be derailed by poorly managed risk. Discover the best risk management practices in Auditing the Risk Management Process.

Edition details

• Publisher: Wiley
• Publication date: 2005
• Language: English
• ISBN 10: 0471690538
• ISBN 13: 9780471690535
• Binding: Hardcover
• Edition number: 1
• Number of pages: 288