Hardcover: 496 pages
Publisher: Wiley; 2 edition (February 18, 2014)
Language: English
ISBN-10: 111841361X
ISBN-13: 978-1118413616
Product Dimensions: 6.4 x 1.5 x 9.3 inches
Shipping Weight: 1.6 pounds (View shipping rates and policies)
Average Customer Review: 5.0 out of 5 stars See all reviews (9 customer reviews)
Best Sellers Rank: #382,978 in Books (See Top 100 in Books) #109 in Books > Business & Money > Insurance > Risk Management #535 in Books > Textbooks > Business & Finance > Finance #582 in Books > Business & Money > Finance > Corporate Finance
When the first edition of “Enterprise Risk Management; from Incentives to Controls” appeared in 2003, it seemed as if the business world – at least in the U.S. - was in disarray. The bankruptcy of Enron in 2001, the collapse of WorldCom in 2002, the shutdown of Arthur Anderson – the auditor of both companies - and the arrests of the senior management of Tyco were resonating in the marketplace. Risk management, previously something that might have been considered an accounting specialty, now demanded the attention of senior managers and their corporate boards.It had gotten to the point that even if board members and management might have been inclined to continue to hand off their risk-oversight responsibilities, the Sarbanes Oxley Act of 2002 wasn’t going to let them; and their outside auditors, the ones surviving after the vaporization of Arthur Andersen, were insisting that management take accountability so that no more scandals would crop up on their watches. Management was facing a risk-management learning curve and they needed guidance if they were to begin to make informed risk decisions across their organizations.It was into this environment that James Lam published his book, “Enterprise Risk Management; from Incentives to Controls” and it was a business best seller. It introduced the background and concepts that were wanting for most managers and the boards they answered to. In his book, Lam gave risk a business context, advanced a risk-management framework applied to business and then drilled down into the three principal forms of business risk: credit risk, market risk, and operational risk - all the while supporting his approach with references to real-life examples and case studies.
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