Pitfalls to Avoid When Implementing an Enterprise Risk Management Program

Enterprise Risk Management (ERM) has shot to prominence in recent years, and is now considered an essential element in the governance framework of any organisation. Our recent blog, 10 Reasons Why Your Enterprise Risk Management Program Won’t Work, was subsequently published by Corporate Risk & Insurance Magazine, and ignited much debate on social media sites as … More Pitfalls to Avoid When Implementing an Enterprise Risk Management Program

10 Reasons Why Your Enterprise Risk Management Program Won’t Work

In our last blog post we boldly asserted “If You’re Not Practicing Enterprise Risk Management You Should Be”. So it was with great interest that we came across an article in Risk Management Magazine titled “Is ERM Failing?” which basically summarised the finding of a 2012 PwC report that found that while 74% of executives … More 10 Reasons Why Your Enterprise Risk Management Program Won’t Work

If You’re Not Practicing Enterprise Risk Management (ERM) You Should Be!

Enterprise Risk Management, (or ERM for short), has shot into prominence in recent years and is now considered to be an essential element in the governance framework of organisations, both small and large, across both private and public sectors, including for-profit and not-for-profit orginisations.

As such, understanding core ERM principles is also becoming an essential skill set for executive managers and company directors, irrespective of organisational size or industry type…. … More If You’re Not Practicing Enterprise Risk Management (ERM) You Should Be!

Why You Should Be Encouraging Your Customers to Complain About You!

Let us tell you a quick story. Every Monday we have a bit of an around the grounds session at work. People report back about their weekend and give a rapid fire summary of the work they have on their plate, what they aim to achieve in the current week etc. You get the picture… … More Why You Should Be Encouraging Your Customers to Complain About You!

Compliance – An Expensive Black hole or a Strategic Imperative?

At CompliSpace we would be very happy to receive a dollar for every time we’ve heard complaints about compliance killing business, wasting valuable dollars and distracting board members from assisting organisations to achieve their goals and objectives.

Let’s face it compliance doesn’t have the best of reputations. “Mindlessly boring”, “innovation stifling”, “tick-box mentality”, are all phrases that come to mind… … More Compliance – An Expensive Black hole or a Strategic Imperative?

CompliSpace Governance Blog – March 2011

The usual modus operandi of this blogger is to do a daily scroll through newspapers, on-line news services and industry publications to come up with the weird and wonderful stories that can best be described as “governance bloopers”. For some reason this month all fingers point to the US. We bring you the following gems.

Like a Rolling Stone – Is Regulation of Wall Street a Misnomer?
Greenspan Looses the Plot
Selling Thin Air to the Indians
The World’s Most Bizarre Safety Bonus … More CompliSpace Governance Blog – March 2011

Integrating Business Continuity with your Enterprise Risk Program

We recently published a blog which provided a high level, non-technical, overview of the Australian Business Continuity Standard AS/NZS 5050:2010 and how it sits with other international business continuity standards. In that blog we argued that for organisations that have adopted the International Risk Management Standard ISO AS/NZS 31000, the Australian Business Continuity Management Standard AS/NZS 5050 provides a good roadmap for effectively integrating business continuity management practices into existing corporate governance infrastructure.

This blog is designed for those organisations that currently have an ISO AS/NZS 31000 risk management program in place and are looking for some direction has to how to integrate it with an AS/NZS 5050 business continuity program…. … More Integrating Business Continuity with your Enterprise Risk Program

Australian Business Continuity Management Standard AS/NZS 5050:2010 – A Risk Perspective

Global surveys of small to medium sized enterprises (SME) over the past few years candidly point to the fact the vast majority of SMEs are not prepared for a business disruption-related risk event. Over 50% do not have a Business Continuity Management (BCM) plan in place and of those that do have a BMC plan only about ¼ have actually been tested. This is a major concern given that the median cost of downtime for an SME in Asia Pacific is $14,500 per day and whilst 65% of businesses believe it would take them between 1 week and 1 month to recover from a major disruption, a return to normal trading can often take 12 months or more. Simply put, without the preplanning involved in the BCM process, most organisations will not survive a major business disruption event…. … More Australian Business Continuity Management Standard AS/NZS 5050:2010 – A Risk Perspective

Corporate Governance Blog – February 2011

February! The shortest month of the year. Blink and it’s over, yet there, as usual, there was no shortage of governance bloopers to keep our heads shaking in disbelief. In this blog we cover:

* If governance starts at the top we’re in serious trouble
* Securities exchanges and their dodgy numbers
* From the brink to an ASX listing in a single bound
* Playboy shenanigans … More Corporate Governance Blog – February 2011