How do enterprise risk management and internal control differ?
Enterprise risk management identifies, assesses and treats the risks to an organisation’s objectives and reports them to the board. Internal control is the narrower set of processes giving reasonable assurance over financial reporting, operations and compliance. COSO publishes a framework for each, and Sarbanes-Oxley makes internal control over financial reporting a legal obligation.
What does an operational readiness review check?
An operational readiness review checks that a system, site or service can actually be run before it goes live: that procedures exist and have been rehearsed, staff are trained and rostered, support and escalation paths are staffed, monitoring and backups work, and the handover from the project to the operating team has documented owners for every task.
Guides and toolkits in this area
- Enterprise Risk Management: A Step-by-Step Guide to Identifying, Assessing, and Mitigating Risks
- Sarbanes-Oxley (SOX) Compliance and Internal Controls: A Step-by-Step Implementation Guide
- Mastering Document Management Software: Boosting Productivity and Compliance
- Operational Readiness Review: A Step-by-Step Guide to Ensuring Seamless Execution and Mitigating Risk
- COSO ERM Framework: A Step-by-Step Guide to Enterprise Risk Management Self-Assessment
- Mastering ITAR Compliance: A Step-by-Step Guide to Export Regulations
- Mastering Project Management with Google Calendar: A Step-by-Step Guide to Ensuring Seamless Coverage and Risk Management
- Mastering Smartsheet: A Step-by-Step Guide to Workflow Automation and Risk Management
- Enterprise Risk Management: A Step-by-Step Guide to Identifying, Assessing, and Mitigating Risks Across the Organization
- ITAR Compliance A Hands-On Tutorial for Modern Defense Contractors
- LNG Project Finance and Risk Management: A Practical Guide
- Mastering Aerospace Auditing: A Comprehensive Guide to Ensuring Total Compliance and Risk Management
- Mastering ISO 14971 Risk Management for Medical Devices A Complete Guide
- SOC2 Compliance A Complete Guide
Where to go next