In June 2022 the Office of the Auditor General of Ottawa Canada issued an audit report on the city’s Enterprise Risk Management (ERM) process. This piece looks at the audit results and what they say about the state of ERM in local government. It also looks at how the recommendations compare with an ERM study in New Zealand. Finally, it discusses the implications for ERM going forward. Continue reading
In a previous CERM Insights I mention ESG (Environmental, Social, Governance) Risk. The U.S. and European governments are starting to stress ESG risk management. This article looks at the proposed ESG requirements of the Security and Exchange Commission (SEC), and the implication for quality management. Continue reading
Over the past year the Biden Administration through two Executive Orders (EO) and a guide from the Food and Drug Administration (FDA) has been pushing Enterprise Risk Management (ERM). This piece looks at this trend and some of its implications.
Executive Order M-22-04
On December 3, 2021, Executive Order M-22-04 was issued. The subject was “Promoting Accountability through Cooperation among Agencies and Inspector Generals (IG)”. This EO is geared towards improving cooperation between the agencies and their Inspector Generals. The EO states: Continue reading
The Security and Exchange Commission (SEC) is in the process of issuing a rule which will require organizations covered under its regulatory authority to report on the potential impact of environmental risks and the action the organization is taking to mitigate such risks. While the SEC’s current focus is on environmental risks, it is expected that it and other federal agencies will expand the requirement to not only Environment, but also Societal and Governance (ESG) risks. Continue reading
Several years ago, I co-authored an article describing the growth of Enterprise Risk Management (ERM) in government globally. (1) With the advent of COVID – 19, that growth has slowed. However, COVID – 19 has raised the issue of risk beyond the abstract. It has made it part of the dialogue worldwide. How much does wearing a mask reduce the risk of catching COVID – 19? How much risk is there to children if schools are reopened? What is the long-term risk to the economy of keeping it locked down? Continue reading