Message from the chair on introducing enterprise risk management (ERM) to a company

Purpose – The purpose of this paper is to illustrate how information technology (IT) governance supports the process of enterprise risk management (ERM). In particular, the paper illustrates how the Control Objectives for Information and related Technology (COBIT) framework helps a company reach its objectives by integrating and supporting the Enterprise Risk Management by the Committee of Sponsoring Organizations (COSO ERM) framework. Design/methodology/approach – This paper explains how the integration between the two frameworks (COSO ERM and COBIT 5) can represent, for any organization, a good way to achieve the objectives of internal control and risk management and, more generally, corporate governance. Findings – The paper identifies some gaps in the COSO ERM and illustrates how the COBIT framework facilitates the implementation of an adequate system of internal control. Originality/value – The originality of the work presented here is in analyzing the COBIT 5 together with the COSO ERM framework. This paper highlights that is not enough to apply only an internal control framework for achieving the risk management and internal control system objectives. An IT governance framework, such as COBIT 5 is proposed as a tool that support risk management in order to develop an adequate system of internal control.

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The use ISO 31000:2018 in Indonesian Fintech Lending Companies: What Can We Learn?

Journal of Business and Management Studies ◽

10.32996/jbms.2022.4.1.3 ◽

2022 ◽

Vol 4 (1) ◽

pp. 16-22

Author(s):

Franciskus Antonius Alijoyo

Keyword(s):

Risk Management ◽

Enterprise Risk Management ◽

Analysis Method ◽

Enterprise Risk ◽

Study Results ◽

Interactive Data Analysis ◽

Iso 31000 ◽

Pros And Cons ◽

Interactive Data ◽

A Company

Enterprise risk management (ERM) is significant in running a company. ISO 31000 is one of the ERM types that are familiar. However, there are still pros and cons of ISO 31000. Thus, this study aimed to find out the responses of the Indonesian fintech lending companies managements in implementing ISO 31000. Specifically, this study tried to identify the problems in implementing ISO 31000:2018 to be implemented as ERM. Besides, it also discussed the benefits of the ISO 31000:2018 implementation from the companies' management's perspectives. The data were collected through questionnaires and interviews. The questionnaire results were quantified and interpreted in percentage, while the interview results were analyzed qualitatively using the interactive data analysis method. The study results showed that most of the companies' management believed that they had no significant problems implementing ISO 31000:2018. In addition, they felt that implementing ISO 31000:2018 as ERM gave many benefits in running the companies. The study's findings were discussed by connecting them with the current theories and empirical reviews. However, since the study was done qualitatively, a further study that involves quantitative study to measure the effectiveness of ISO 31000 empirically is needed to support the results of this study.

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Enterprise Risk Management

International Journal of Risk and Contingency Management ◽

10.4018/ijrcm.2014040102 ◽

2014 ◽

Vol 3 (2) ◽

pp. 18-30 ◽

Cited By ~ 6

Author(s):

Karen K. L. Moon ◽

Phyllis L. L. Mo ◽

Rita L. Y. Chan

Keyword(s):

Risk Management ◽

Enterprise Risk Management ◽

Clothing Industry ◽

Formal Approach ◽

Legal Structure ◽

Enterprise Risk ◽

Strategic Measures ◽

The Relationship ◽

A Company ◽

Depth Interviews

The authors investigate strategic measures companies adopt to combat and manage risks in order to survive and grow in an unstable economic environment. Based on in-depth interviews with senior staff from six Hong Kong-based successful enterprises in the textile and clothing industry, they find that companies have adopted various enterprise-wide, holistic, and integrative approaches to effectively address and manage risks. Also found was that the use of a formal approach to manage risks by a company at a different stage of the Enterprise Risk Management (ERM) maturity continuum is affected by its size, scope of operations, and legal structure. The findings from this study enhance the understanding of the relationship between organization structure and risk management.

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The Role of Enterprise Risk Management (ERM) Using ISO 31000 for the Competitiveness of a Company That Adopts the Value Chain (VC) Model and Life Cycle Cost (LCC) Approach

10.33422/3rd.icbmf.2021.03.130 ◽

2021 ◽

Author(s):

Antonius Alijoyo

Keyword(s):

Risk Management ◽

Life Cycle ◽

Value Chain ◽

Life Cycle Cost ◽

Enterprise Risk Management ◽

Enterprise Risk ◽

Iso 31000 ◽

A Company

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Financial Enterprise Risk Management

10.1017/cbo9780511844133 ◽

2009 ◽

Cited By ~ 17

Author(s):

Paul Sweeting

Keyword(s):

Risk Management ◽

Enterprise Risk Management ◽

Enterprise Risk

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Effect of Enterprise Risk Management on Firm Value: Empirical Evidence from Non-Financial Firms in Pakistan

GIS Business ◽

10.26643/gis.v13i2.3298 ◽

1970 ◽

Vol 13 (2) ◽

pp. 15-28

Author(s):

Nouman Nasir

Keyword(s):

Risk Management ◽

Firm Value ◽

Positive Impact ◽

Stock Exchange ◽

Enterprise Risk Management ◽

Least Square ◽

Return On Equity ◽

Financial Firms ◽

Enterprise Risk ◽

Ordinary Least Square Regression

This research examines the effect of enterprise risk management on firm value in Pakistan. Further, this study empirically examines company characteristics that establish the execution of an enterprise risk management system. Using a sample of final dataset of 83 non-financial firms located in Pakistan. The sample included non-financial firms from the year 1999 to 2015 and so up to seventeen observation years per company. As in context of Pakistan, most of the organizations are already implement an ERM programs and establish specialized ERM departments because the ERM is now a global term and has become increasingly relevant because of the growing difficulty of risk and an additional development of regulatory frame works. For the empirical evidences, data collected from non-financial firms listed at the Pakistan Stock Exchange (PSX). Results of logistic regression shows that Capital Opacity, Profitability, Financial Leverage, Firm Size and Slack have positive impact on the implementation of an ERM system but Industrial diversification, Industry and Return on Equity are negatively related to an ERM engagement. The results of ordinary least square regression finds positive relationship between use of an ERM and firm value.

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MODELLING AND CONTROLLING THE ENTERPRISE RISKS COMPLEX ASSESSMENT SYSTEMON THE BASIS OF RUSSIAN STATE STANDARD ISO 9001-2015 CONCERNING RISK-ORIENTED THINKING. GENERAL PROBLEMS AND WAYS OF SOLVING THEM

Automation and modeling in design and management of ◽

10.30987/2658-6436-2020-2-33-41 ◽

2020 ◽

Vol 2020 (2) ◽

pp. 33-41

Author(s):

Irina Merzlyakova ◽

Aleksandr Feofanov

Keyword(s):

Risk Assessment ◽

Risk Management ◽

State Standard ◽

Control Model ◽

Enterprise Risk Management ◽

Iso 9001 ◽

Management Procedure ◽

Russian State Standard ◽

Russian State ◽

Enterprise Risk

The article considers general problems of implementing the enterprise risk management procedure. One of the ways to solve the problems arising when meeting Russian state standard ISO 9001-2015 requirements concerning risk-oriented thinking is presented. A risk assessment control model aimed at coordinating all kinds of the enterprise departments activities, forming a clear algorithm of risk management procedure implementation and attracting a greater number of employees towards this activity is offered.

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