executives directors auditors and advisors and we encourage everyone with an

Executives directors auditors and advisors and we

This preview shows page 9 - 12 out of 153 pages.

executives, directors, auditors and advisors, and we encourage everyone with an interest in implementingERM to read and understand it. Many are asking questions about the value proposition of ERM and practical steps on how to implement it.While we do not have all the answers, we attempt to address in this publication some of the most commonlyasked questions with respect to ERM. This publication is designed to answer your questions without makingyou wade through material with which you are already familiar. It often refers to the COSO framework,which readers can obtain at www.coso.org. It offers ideas, suggestions and insights to executives responsiblefor ERM implementation. It is intended for use as a reference tool rather than as a book to be read fromcover to cover. It is supplemented by Issue 6 of Volume 2 of The Bulletin, “Enterprise Risk Management:Practical Implementation Advice,” which provides an overview for C-level executives and directors and isavailable at www.protiviti.com.As companies gain more experience with implementing ERM, we expect to update this publication from timeto time. If we do so, we will post information at www.protiviti.com. Protiviti periodically publishes ERMperformer profiles on KnowledgeLeaderSMto provide ERM case examples and plans to publish a bookincluding such profiles from time to time. This publication is neither intended to be a legal analysis nor a detailed “cookbook” of steps to take in everysituation. Accordingly, companies should seek out appropriate advisors for counsel on specific questions asthey evaluate their unique circumstances. Protiviti Inc.January 2006
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3THE FUNDAMENTALS 1. What is Enterprise Risk Management (ERM)?
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