With each new crisis, surviving organizations revise their risk management plans, often modeling situations which look like the one just past. Whatever crisis troubles your organization next, it is not likely to be another pandemic, but may resemble some other crisis from the distant past. Research shows that top performing organizations do no better than their mediocre-performing peers at predicting the next crisis. However, because they have plans in place to handle one possible risk, they are better prepared when a different crisis happens as a result of having important elements of a solution in place. Often well-prepared organizations actually end up better off because the crisis occurred. This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Learning Objectives
After attending this presentation you will be able to...
- Recall the risk management lessons from the COVID pandemic
- Realize the role of Auditors in risk management
Major Topics
The major topics that will be covered in this class include:
- Black Swan Risks
- Role of Finance, Internal and External Auditors
- COSO's Risk Management Standards
- The COSO Cube
- The COSO Double Helix
- Risk Management Definitions
- Event Identification
- Expected Value Analysis
- The Heat Map
- The World Economic Forum Global Risk Reports
- Alternative Risk Responses
- Avoidance
- Reduce/Increase
- Share
- Accept
- Lessons from the Great by Choice Research
- Personal Risk Management
