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Technical

Risk Management Logo cgma

  Ken Witt, CPA, CGMA |   Free |   AICPA |   Jun 2015 |   04:02 min |   AICPA.org

In this video, Ken Witt discusses the critical importance of risk management in today's business environment and the key factors to focus on.

Topics covered:
  • Management accounting: Technical: Risk management & internal control: Risk identification & assessment, Expert

14 Comments/Reflections

Robert Smith

Robert Smith Mar 2020

This video is a good, high level summary of the need to manage risk. Assessing a companies risk and setting up a risk register and then working out mitigation strategies is a useful technique that I have used in the past.

I like the fact that this video expand risk management to operations and legal as well as financial risk.
Arjun Malik

Arjun Malik Aug 2019

This video was a useful refresher on the key components of the risk function which is linking more with Finance as well as Ops and Legal functions. The risk register appears to widely used including likelihood and impact scores - I haven't been involved in this recently but I definitely expect to be using a risk register in my next role which is dedicated to management of a single global/regional contract.
John Walton

John Walton Mar 2019

Key stages  in Managing Risk in an Organisation are:
Risk Identification
Risk Management:

Find ways to transfer the risk, e.g. insure against it, minimize it.

Once the key risks have been identified need:

Ongoing Monitoring
Update and incorporate them in Policies & Procedures
Utilise Tracking & Reporting

Also incorporate into the Internal Audit Process.

Need to understand the impact of Criminal Finance Act 2017 in regard to prevention of tax evasion.
Hester Neveling

Hester Neveling Dec 2018

Excellent presentation, valuable information.
Andrew McKellar

Andrew McKellar Aug 2018

An excellent overview and relevant to my current role. Motivational.