Paradigm Paralysis in ERM and Internal Audit May be the Biggest Risk to Your Organization

The Conference Board of Canada, December 7, 2016
Recorded Webinar
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Boards are increasingly being called on to ensure their organization has a sound risk culture and framework, while still fostering the strategies necessary to thrive in a rapidly changing world. In the UK, board Chairs must now make annual representations explaining in specific terms what the board has done to oversee the company’s risk culture, risk management framework, the internal audit department, and the external auditors. Boards and CEOs need to ask whether their risk and assurance processes fulfill their risk governance mandate.

Tim Leech, a globally recognized authority on board risk oversight, argues that approaches being used by many organizations today are not up to the task of providing the assurance and insights that C-Suites and boards need.

Join us and explore how traditional approaches to ERM and Internal Audit have a bad case of “paradigm paralysis”— a paralysis that represents a major barrier to well intending CEOs and boards that want to meet rapidly escalating board risk oversight expectations. In this webinar Tim Leech will explain what boards and CEOs should do to foster the necessary transformations to ensure that their organization’s risk management and assurance approaches are not themselves a risk.

Webinar Highlights

In this 60-minute webinar, Tim Leech discusses:

  • Why traditional approaches to ERM and Internal Audit used in the majority of organizations today do not sufficiently provide what C-Suite and Boards need,
  • Why the June 2016 COSO ERM framework is not the guidance the world needs now
  • What is the legal standard of board risk oversight in Canada today?
  • What should well-intending boards and CEOs be calling for from management and their risk and internal audit groups to meet the new risk governance expectations,
  • What specific changes must be made to ERM and internal audit processes to produce what CEOs and boards need

About Tim

Tim J. Leech FCPA CIA CFE CRMA is Managing Director at Risk Oversight Solutions Inc. based in Oakville, Ontario, Canada and Sarasota, Florida. Risk Oversight Solutions focuses on helping companies more effectively manage risk and assurance to add real value and meet escalating board risk oversight expectations. He has over 30 years of global experience in the board risk oversight, ERM, internal audit, and forensic accounting fields, including expert witness testimony in civil and criminal proceedings and helping public and private sector organizations with ERM and internal audit transformation initiatives. Leech has provided risk and assurance training for tens of thousands of public and private sector board members, senior executives, professional accountants, auditors and risk management specialists in Canada, the U.S., the EU, Australia, South America, Africa and the Middle and Far East. He has received worldwide recognition as a pioneer, thought leader and trainer. His newest breakthrough methodology, “Objective Centric Five Lines of Assurance” has been recognized globally as breakthrough thinking in the assurance field. His article “Reinventing Internal Audit” featured in the April 2015 issue of Internal Audit magazine was awarded a 2016 Outstanding Contributor award by the IIA. His articles on board risk oversight have been published in Conference Board Director Notes, Ethical Boardroom, Harvard and Columbia University law blogs and elsewhere. His most recent article, “Paradigm Paralysis in ERM and Internal Audit”, published in the summer issue of Ethical Boardroom has generated a global response.

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