INTRODUCTION
In a recent e-mail in which he noted that of U.S. Office of Management and Budget (OMB) is issuing its update to Circular A-123 on July 15, 2016, Greg Hutchins, co-founder of the CERM Academy, commented “this is really big. The circular is entitle “Management’s Responsibility for Enterprise Risk Management (ERM)”. It requires all federal agencies to adopt ERM. ERM is a framework by which federal agencies can identify and mitigate risk. I agree with Greg, this will be big. Thus, it is worth stepping back and seeing some of the factors which lead to the adoption of ERM. Continue reading →