Average Reviews:
(More customer reviews)This book has revived the way I look at risk management - or enterprise risk management (ERM)! Apart from shaking the foundations of current accounting (which actually dates back to the 15th century), the book outlines the fundamental relationships and business conditions that make companies grow and prosper.
What information do management, board members, investors and other stakeholders need to judge the viability and sustainability of an enterprise?
To properly govern a company, the owners, board and management need more structured, transparent non-financial information than what we see today. It is sad that the members of the various governance institutions and committees that have delivered a long series of rules and regulations ever since Barings Bank never had the opportunity to read this book - incl Mssr Sarbanes and Oxley. But it's never too late correct past mistakes and misconceptions.
I can only urge audit committee members, internal auditors, chief risk officers and risk management professionals to read this book and chapter 4 in particular. The broad stakeholder view of the enterprise which the authors recommend is fundamental in our new global, net-worked world.
Per Aakenes
Senior Risk Management Advisor
Click Here to see more reviews about: Performance-Based Reporting : New Management Tools for Unpredictable Times
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