This chapter covers details of COSO frameworks that came out in 2004 and 2017; this also covers ISO 31000 that came out in 2009 and 2018. The chapter discusses similarities and differences between these frameworks to help understand the fabrics of enterprise risk management. The chapter further...

This article discusses the fundamental factor important in the management of risk. This fundamental factor is ‘Risk Identification”. Unless or until risks are not identified, the risk mitigation process cannot take off. Because of a lack of risk identification, most of the risks fall through...

The purpose of the article is to assess the level of any overlap between the second and third lines of defense in the global market. The level of overlap influences the independence of the two lines and the maturity of risk management and audit function. The data is obtained by conducting a poll

Though risk management and its application in the corporate world are new, its essence is very old. One must remember that risk is always about the future and the future is always unknown. There is no idea what will unfold in the future, however, some ideas about the future can be assessed based...

The article is about learning from aviation risk management to corporate risk management. Aviation risk management plays a vital role in providing safety to air passengers. The paper studies the key areas of development in the aviation industry, such as systematic thinking processes, the role of...