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Enterprise Risk – Issue 2


ERS MagazineIssue 2 of "Enterprise Risk" – the quarterly magazine compiled by Enterprise Risk Services, is officially published in November 2010. Starting from this issue, the ERS team in Taiwan has joined the teams in Beijing, Hong Kong, Shanghai and Shenzhen to contribute articles as well as to participate in the risk management survey.

The theme of issue 2 is "Risk Management" covering the following major contents:

Risk Intelligence – The implementation and methodology of risk management in China

From the boardroom to the newsroom, "Enterprise Risk Management" (ERM) is a hot topic. Now, more and more companies in China have realized the importance of risk management and have taken action. Features in this issue are as follows:

  • Risk management helps companies grow steadily: 2010 Survey of risk management in Chinese companies
    Deloitte's ERS conducted a survey about risk management in Chinese companies aiming at understanding the current situation and challenges faced by companies in gGreater China (including Hong Kong SAR and Taiwan). In total, 235 listed and unlisted companies in Mainland China, Hong Kong SAR and Taiwan were involved. The survey report covered the following topics: overview of environment, the drivers, challenges for implementation, current practice, company's responsibility and structure.

  • Watching the world through the filter of risk management– Risk intelligence that the Board should have
    The article analyzes the necessity for the board to develop risk intelligence. It also introduces how the board could reach a governance framework with risk intelligence.

  • Avoiding mismatch by connecting risk management and internal control with daily business closely
    The Risk and Control Director of a leading central enterprise shared their experience in risk and control, in Deloitte's risk management salon. The company always walks one step ahead in risk management and internal control, which has been highly praised by officers of SASAC and other regulatory bodies many times

  • Quantifying the risk, balancing the profit
    Quantitative risk analysis is an important risk management technique. Taking revenue budget form as an example, this article introduces the model of quantitative risk analysis. It also demonstrates the advantage of quantitative risk analysis in business decision-making through EaR calculation and sensitivity analysis.

  • Establishing an early warning system of financial risks based on EVA
    This article discusses the necessity and method to establish an early warning system of financial risks based on EVA.

  • Risk in control, balance in control – How to develop an effective information risk management mechanism
    Information technology (IT) has gradually become an indispensable factor in company's business development. The new topics faced by the company are how to identify and evaluate the IT risks, how to appropriately deal with those risks through effective mechanism, and how to establish ongoing IT risk monitoring and reporting system. It introduces 4 steps to establish an effective IT risk management system as well.

Improving information security and privacy protection without delay

The requirement of information security and privacy protection is becoming more and more exigent. It is urgent for company to take action. The company can strengthen information security and privacy protection framework and culture from Governance, People, Process and Technology, as well as conducting privacy impact assessment when planning new business.

Internal control practices

In this issue we look at "Sales I: Order acceptance, credit and price".

Book recommendation

"The Leadership Challenge – 4th edition".

Risk management terminology

In this issue, the featured phrase that is related risk and control is "risk profile".

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