Now more than ever, directors are expected to exercise due diligence and care. Directors are understandably concerned about personal liability and reputations at risk. But without better risk intelligence that comes from an effective enterprise risk management (ERM) approach, it will be difficult for the board to meet stakeholder expectations.

In this article, Rick Funston, partner, Deloitte & Touche LLP describes:

• Critical questions board members might ask
• ERM challenges and the board’s role
• What will you learn from your company’s ERM process
• How to set the tone for successful ERM 

This article was published in the 2005 Board Liabilities Supplement of Corporate Board Member magazine and is used here with permission.