Praise for Enterprise Risk Management and COSO:
A Guide for Directors, Executives, and Practitioners
‘Enterprise Risk Management and COSO is a comprehensive
reference book that presents core management of risk tools in a
helpful and organized
way. If you are an internal auditor who is interested in risk
management, exploring this book is one of the best ways to gain an
understanding of enterprise risk management issues.’
–Naly de Carvalho, FSA Times
‘This book represents a unique guide on how to manage many of
the critical components that constitute an organization’s corporate
defense program.’
–Sean Lyons, Corporate Defense Management (CDM)
professional
‘This book provides a comprehensive analysis of enterprise risk
management and is invaluable to anyone working in the risk
management arena. It provides excellent information regarding the
COSO framework, control components, control environment, and
quantitative risk assessment methodologies. It is a great piece of
work.’
–J. Richard Claywell, CPA, ABV, CVA, CM&AA, CFFA,
CFD
‘As digital information continues its exponential growth and
more systems become interconnected, the demand and need for proper
risk management will continue to increase. I found the book to be
very informative, eye-opening, and very pragmatic with an approach
to risk management that will not only add value to all boards who
are maturing and growing this capability, but also will provide
them with competitive advantage in this important area of
focus.’
–David Olivencia, President, Hispanic IT Executive
Council
Optimally manage your company’s risks, even in the worst of
economic conditions.
There has never been a stronger need for sound risk management
than now. Today’s organizations are expected to manage a variety of
risks that were unthinkable a decade ago. Insightful and
compelling, Enterprise Risk Management and COSO reveals how
to:
* Successfully incorporate enterprise risk management into your
organization’s culture
* Foster an environment that rewards open discussion of risks
rather than concealment of them
* Quantitatively model risks and effectiveness of internal
controls
* Best discern where risk management resources should be dedicated
to minimize occurrence of risk-based events
* Test predictive models through empirical data
Table of Content
About the Contributors.
Acknowledgments.
Preface.
SECTION I ORGANIZATIONAL RISK MANAGEMENT.
Chapter 1 An Introduction to Risk.
Chapter 2 Key Tenets of Enterprise Risk Management.
Chapter 3 Mitigating Operational Risks Through Strategic
Thinking.
Chapter 4 Mitigating Risk in Internal Investigations and
Insurance Coverage.
SECTION II QUANTITATIVE RISK MANAGEMENT.
Chapter 5 Recognized Control Frameworks: COSO-IC and
COSO-ERM.
Chapter 6 Other Control Frameworks.
Chapter 7 Qualitative Control Concepts.
Chapter 8 Quantitative Control Relationships.
Chapter 9 Excel Applications.
Chapter 10 Interdependent Systems.
Chapter 11 Documentation.
Chapter 12 The Process for Assessing Internal Control.
Chapter 13 Monitoring Internal Controls.
Chapter 14 Accounting Policies and Procedures.
Chapter 15 Business Process Applications.
Chapter 16 General and Infrastructure Systems.
Chapter 17 Trusted System Providers.
Chapter 18 Reporting on Internal Control.
Chapter 19 Review and Acceptance of Assessments.
Glossary.
Appendix: Internal Control Sections of the Sarbanes-Oxley
Act.
Index.
About the author
Harry Cendrowski, CPA, ABV, CFF, CFE, CVA, CFD, CFFA, is
Managing Director and co-founder of Cendrowski Corporate Advisors,
Cendrowski Selecky PC, and Prosperitas Group LLC. He has over
twenty-five years of experience assisting firms with their
corporate governance and risk management practices. Harry is also
active in the private equity (PE) arena, and has assisted PE funds
with their due diligence and operational activities. He frequently
serves as an expert witness in the areas of forensic accounting,
business valuation, and fraud investigation. He is coauthor of
Private Equity: History, Governance, and Operations and
The Handbook of Fraud Deterrence, both published by Wiley.
Harry also serves as the Director of Fraud and Forensic Services
for the International Association of Consultants, Valuators and
Analysts and is coauthor of the training materials used to train
every Certified Fraud Deterrence Analyst (CFD).
William C. Mair is a former partner at Touche Ross &
Co. (now Deloitte), chief auditing officer, chief accounting
officer, and board member of a registered investment company. He is
currently a financial systems consultant. Bill has studied internal
control from all angles and has written extensively on the subject.
He is best known as lead author of Computer Control and
Audit, a revolutionary book in the field of information systems
auditing. The Information Systems Audit and Control Association
(ISACA) voted Bill the fourth most influential person among the
pioneers of information systems auditing in a study published by
the EDP Auditor Journal.
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