Auditing the Risk Management Process (IIA (Institute of Internal Auditors) Series) [Hardcover]

K. H. Spencer Pickett (Author)

Book Description

Publication Date: July 1, 2005 | ISBN-10: 0471690538 | ISBN-13: 978-0471690535 | Edition: 1

Risk management is a part of mainstream corporate life that touches all aspects of every type of organization. Auditors must focus firmly on risk: risk to the business, the executives, and the stakeholders. Auditing the Risk Management Process incorporates all the latest developments in risk management as it applies to auditors, including the new Committee of Sponsoring Organizations of the Treadway Commission (COSO) enterprise risk paper. Auditing the Risk Management Process includes original risk maps and process models developed by the author, explaining where and how topics fit within an overall audit framework, all the latest developments in risk management as it applies to auditors, and insight into how enterprise risk management affects the responsibilities of both internal and external auditors.

Editorial Reviews

From the Inside Flap

Until recently, traditional risk management methodology was viewed as a series of benchmarks to be reviewed, checked off, and filed away for the following year. This laid-back system left many loopholes for corruption. Reckless trading, against the backdrop of the cutthroat competition of the 1990s into 2000 and beyond, forced regulators to get tough. The advent of enterprise risk management has brought about a dramatic change in the philosophy of risk management, making back office checking teams an important corporate resource, with a new focus on identifying and evaluating significant exposures to risk. This new approach encourages all employees to play a role in improving risk management and control systems.

Auditing the Risk Management Process brings together the latest thinking and guidance on internal control and how it pertains to the audit function to help readers implement effective enterprise risk management throughout all facets of their organizations. The first book in the new Practical Auditor Series—cobranded with the Institute of Internal Auditors—Auditing the Risk Management Process deftly illustrates how the growing trend in enterprise risk management affects the responsibilities of both internal and external auditors.

Author K. H. Spencer Pickett provides a wealth of practical guidance and tools, including his personally developed risk maps and process models, to help auditors fully understand the overall audit framework and reporting process, while complying with the demand for a higher standard of risk transparency enforced by Sarbanes-Oxley.

Written primarily for internal auditors, Auditing the Risk Management Process is also a useful tool for external auditors, compliance teams, financial controllers, consultants, and others involved in reviewing governance, risk, and control systems, as well as executives, managers, and staff as they are increasingly being asked to review their systems of internal control and ensure that there is a robust risk management process in place in all types of organizations.

Don't let your organization be derailed by poorly managed risk. Discover the best risk management practices in Auditing the Risk Management Process.

From the Back Cover

Target risk in your organization

Risk management is now a part of mainstream corporate life that touches all aspects of every type of organization. Auditors must now focus firmly on risk: risk to the business, risk to the executives, and risk to the stakeholders. Auditing the Risk Management Process incorporates all the latest developments in risk management as it applies to auditors, including the new The Committee of Sponsoring Organizations of the Treadway Commission (COSO) enterprise risk paper.

Auditing the Risk Management Process includes:

• Original risk maps and process models developed by the author, explaining where and how topics fit within an overall audit framework
• All the latest developments in risk management as it applies to auditors
• Insight into how enterprise risk management affects the responsibilities of both internal and external auditors

Learn to navigate the risks your corporation faces today, and tomorrow, with the able guidance found in Auditing the Risk Management Process.

See all Editorial Reviews

Product Details

• Hardcover: 288 pages
• Publisher: Wiley; 1 edition (July 1, 2005)
• Language: English
• ISBN-10: 0471690538
• ISBN-13: 978-0471690535
• Product Dimensions: 9.3 x 6.4 x 1 inches
• Shipping Weight: 1.2 pounds (View shipping rates and policies)
• Average Customer Review: 2.0 out of 5 stars  See all reviews (1 customer review)
• Amazon Best Sellers Rank: #1,040,658 in Books (See Top 100 in Books)

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Most Helpful Customer Reviews

1 of 1 people found the following review helpful:

2.0 out of 5 stars Could be better, January 6, 2009

By 

Windy Welly (New Zealand) - See all my reviews

This review is from: Auditing the Risk Management Process (IIA (Institute of Internal Auditors) Series) (Hardcover)

This book is reasonably good. Does not have sufficient details as I expected from the review of the book.