Accounting Policy & Practice Series
Enterprise Risk Management
Portfolio Description
This Portfolio, Enterprise Risk Management, analyzes a methodology that companies of all sizes can adopt to identify, assess, and manage risk. Companies increasingly operate in a volatile business environment. Accordingly, managing risk must take an enterprise-wide perspective, focusing on strategic, operational, and financial risks in addition to the traditional attention to hazard risk. While enterprise risk management is not a mathematical exercise, the measurement of risk is important. The Portfolio examines various assessment approaches, from qualitative to quantitative. The Portfolio discusses how enterprise risk management can be integrated with other management initiatives such as strategic planning, merger and acquisition evaluations, the balanced scorecard, budgeting, internal auditing, crisis management, and corporate governance.
Other Portfolios in the Accounting Policy and Practice Series separately analyze these other initiatives. The Sarbanes-Oxley Act created new requirements for risk management disclosures related to financial reporting. In addition, the Securities and Exchange Commission has required registrants to disclose more information on risk factors of their business. The Portfolio discusses these and other regulatory requirements and how companies can employ ERM in complying with them. Enterprise risk management is not merely a United States phenomenon; companies in other countries are advanced in their implementation of it. The Portfolio examines the regulatory requirements and disclosures for a number of these countries.
This Portfolio may be cited as BNA Tax and Accounting Portfolio 5303, Shenkir and Walker, Enterprise Risk Management (Accounting Policy and Practice Series).
William G. Shenkir, B.B.A., Texas A&M University; M.B.A., Ph.D., University of Texas at Austin; CPA Texas; Member: American Institute of Certified Public Accountants, American Accounting Association. Former technical advisor and project director for Financial Accounting Standards Board; Former Dean of the McIntire School of Commerce; Past President of the American Assembly of Collegiate Schools of Business.
Paul L. Walker, B.B.A., University of Texas-Arlington; Ph.D., University of Colorado-Boulder; Member: American Institute of Certified Public Accountants, AICPA Risk Task Force, American Accounting Association. Advisor and Consultant on Enterprise Risk Management (ERM) to: Committee of Sponsoring Organizations and other organizations. Coauthor of ERM books: Making Enterprise Risk Management Pay Off: How Leading Companies Implement Risk Management and Enterprise Risk Management, Pulling It All Together.
