Enterprise Risk Management: Framework, Benefit, and Implementation

This book examines the underlying concept of enterprise risk management (ERM), with a strong focus on the concept of ERM within different frameworks such as the COSO and Turnbull Report. It explains the characteristic and benefit that are associated with the use of ERM from internal and external perspectives with a detailed summary from three papers: COSO''s (2004) Executive Summary on ERM framework, U.S. Society of Actuaries'' (2006) Speciality Guide on ERM, and a white paper published by Deloitte (2005). It presents an extensive guide to the obstacles companies face in implementing ERM, and the role that regulatory guidelines have played in the decision to adopt ERM