The Institute of Internal Auditors (IIA) released a great series of articles on Enterprise Risk Management (ERM), “Real-world ERM” and “12 Key ERM Challenges”, that convey the struggles of implementing ERM and some great insights on how to ‘make it real.’

A quote that stuck out to me was, “there is no shortage of guidance to explain what ERM is and how to implement it, though most of this information is written for risk and control specialists. To succeed, ERM efforts need to include people with other priorities.”

Getting buy-in from management is a top roadblock to successfully implementing an ERM program – or at least to implementing an ERM program that won’t fizzle out quickly. Fortunately, as noted above, there is a multitude of documentation on the concept and benefits of ERM…. and in a later post, I’ll identify the most relatable ways to talk about ERM with management.

Tags: Business Process Audits, Internal Audit Outsourcing, Internal Controls Reviews, IT Governance & Strategy, Regulatory Compliance, risk assessment

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