Corporate Governance, Risk Management and Internal Control

    Corporate Governance, Risk Management and Internal Control  

    Guidance and information for members in business, industry & government on corporate governance, enterprise risk management and internal controls for public, private and not-for-profit entities. Also, publication guidance and information can be found at the Audit Committee Effectiveness Center and COSO guidance on Internal Control and Enterprise Risk Management.

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    The Best of Boards: Sound Governance and Leadership for Nonprofit Organizations

    Author: Kimberly Strom-Gottfried, PhD and Marci Thomas, CPA, MHA
    Publisher: AICPA

    The Best of Boards: Sound Governance and Leadership for Nonprofit Organizations provides not-for-profit board members and financial managers with the essential fiduciary knowledge and indispensible leadership guidance that they need to meet the challenges of the current not-for-profit environment.



    News and Other Information 

    Financial reporting (Journal of Accountancy, November 2013)

    Learn how to create a solid structure for a risk management process in "Risk Assessment For Mid-Sized Organisations: COSO Tools for a Tailored Approach, 2nd Edition."

    The Financial Reporting Center helps CPAs meet the challenges of providing high quality financial reporting.

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    COSO Internal Control- Integrated Framework

    Framework The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is a joint initiative of five private sector organizations and is dedicated to providing thought leadership through the development of frameworks and guidance on enterprise risk management, internal control and fraud deterrence.
    Published on February 19, 2014

    Measuring and Improving Performance of Corporate Boards Whitepaper PDF

    Article This Guideline provides guidance for corporations on how to respond to regulatory and stakeholder concerns for improving the quality of performance of both senior managers and corporate board of directors. It also provides new approaches for financial executives to contribute to improving the performance of board of directors, CEOs, and
    Published on March 12, 2013

    Managing Opportunities and Risks PDF

    Article Risk-taking, the engine driving business, is vital to companies seeking market success. Risks are, however, often thought of only as hazards, despite the fact that they can present significant opportunities and possibilities for organizational innovation and new competitive advantage leading to short- and long-term profitability.  In fact, risk and opportunity
    Published on February 04, 2013

    Measuring and Improving the Performance of Corporate Boards (Full Text)

    Article Recently we have all read about the spectacular failures of corporate governance. New rules and regulations are being introduced that are intended to rebuild public trust, yet a question remains as to whether all this activity will result in boards that are more effective in delivering results.
    Published on February 01, 2013

    Identifying, Measuring & Managing Organizational Risk for Improved Performance

    Article Risk is an inescapable element of competing in a market economy. Organizations must be able to evaluate many types of risks: political, social, environmental, technological, economic, competitive and financial and incorporate the results into decisions regarding investments and operations, as well as into the systems used to monitor and evaluate
    Published on September 19, 2012

    Integration of ERM Analysis Into Corporate Credit Ratings

    Article In May 2008, Standard and Poor's (S&P) formally  announced they would begin to augment their meetings with nonfinancial industry sector to include discussion on ERM.
    Published on September 19, 2012

    COSO Internal Control Integrated Framework Exposure Draft - AICPA Comment Letter

    Comment Letter This comment letter details AICPA's thoughts on the COSO Internal Control – Integrated Framework Exposure Draft.
    Published on March 30, 2012

    Executive Summary - The Reporting of Organizational Risks for Internal and External Decision Making

    Article The regulatory pressures for improved risk assessment and reporting on internal control have increased around the world. The reason? Corporate accounting failures, frauds, internal control breaches, and governance failures have been seen in companies and countries that thought they were immune to these events.
    Published on April 06, 2011

    Financial Risk Management for Management Accountants

    Article Organizations face many different types of risk. This Management Accounting Guideline presents a framework for understanding the nature of financial risks, the key components of a financial risk management system, and applying specific strategies and tools for managing financial risks, including the use of forward, futures and options contracts, as
    Published on August 27, 2010

    Executive Summary- Integrating Social and Political Risk Into Management Decision Making

    Article The corporate risk landscape has shifted significantly in recent years. Larger and more varied risks than ever previously thought have been seen in companies and countries who had believed they were immune from those risks. Rapidly increasing globalization poses a common challenge to management decisions.
    Published on July 08, 2010

    Link Between Decision-Making and ERM A Case Study

    Case Study Enterprise   Risk Management (ERM) is not separate process outside of normal business processes but is integral to the organization’s success which should be imbedded into and integrated within the organization.  Here is a case study from how one company decision-making process and ERM are one.
    Published on May 04, 2010

    What is Your Risk IQ

    Article Finding proper balance between taking risks that spawn innovation and growth and controlling risks that create waste and expense is challenging. Take this quiz to see if you're adequately managing everyday risks your organization takes.
    Published on May 04, 2010

    2010 Report on the Current State of Enterprise Risk Oversight

    Report Survey results of the 2010 Report on the Current State of Enterprise Risk Oversight
    Published on April 27, 2010

    The Basics of Fraud Risk Management

    Article Learn the basics of fraud risk management, including an explanation of fraud, information on combating, prevention, and detection of fraud, plus deterrence and response.
    Published on April 23, 2010

    Enterprise Risk Management Meeting Todays Challenges

    Article The recent financial crisis is calling into questions the robustness of risk oversight and process in types of organizations.
    Published on April 23, 2010

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