Protiviti ERM Guide
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PROTIVITI RELEASES GUIDE TO ENTERPRISE RISK MANAGEMENT New Publication Addresses ERM Strategy and Implementation MENLO PARK, CA - March 29, 2006 - Protiviti Inc., a leading international provider of risk consulting and internal audit services, today announced the release of its new publication, Guide to Enterprise Risk Management: Frequently Asked Questions. Recently designated by Forrester Research as a leader in enterprise risk management (ERM) consulting, Protiviti demonstrates its proven expertise and deep competencies through its latest resource guide, which offers detailed insights, ideas and strategies for C-level executives and boards of directors responsible for ERM design and implementation within their organizations. "ERM is about establishing the oversight, control and discipline to drive continuous improvement of an organization's risk management capabilities in a constantly changing business environment," said Everett Gibbs, managing director of Protiviti. "This guide is a comprehensive reference tool that executives and board members can rely on as they work to define and implement an ERM program that is effectively integrated with strategy-setting." Guide to Enterprise Risk Management: Frequently Asked Questions addresses how to conduct a risk assessment to prioritize the risks that matter, apply Protiviti's frameworks to evaluate risk management capabilities and build a compelling business case for implementing ERM that is tailored to the specific circumstances of each company. It also discusses how ERM can be implemented on the foundation laid by Sarbanes-Oxley compliance, a topic of interest to companies tapping into the U.S. capital markets. Additional topics addressed in the publication include: ERM fundamentals and the COSO Enterprise Risk Management - Integrated Framework: Protiviti provides a detailed overview of ERM basics and the COSO ERM framework. Content ranges from examples of effectively applied ERM practices to the expected deliverables once the COSO ERM framework is implemented. Role of executive management, directors, chief risk officers and internal audit: "While ultimate responsibility for ERM starts at the top, every manager within the organization should participate to some extent in the ERM process," said Gibbs. Protiviti's ERM guide describes the "who, what, when, where and why" surrounding the various levels of management involvement. Risk management oversight structure, vision and objectives: Protiviti discusses key issues related to the risk management oversight structure, and provides guidance in translating risk management vision and objectives into the appropriate ERM infrastructure to create focus and make things happen. Getting started - Set the Foundation: Finding a starting point for the ERM journey can be a daunting task. The guide outlines five practical implementation steps to help executives break ground on this initial stage." Taking a process view - Building Capabilities: Protiviti experts explain three steps to advance an organization's capabilities around managing its priority risks: 1) assess risk and develop risk responses, 2) design and implement capabilities, and 3) continuously improve capabilities. Taking it to the next level - Enhancing Capabilities: Quantifying risk enterprisewide, improving enterprise performance and establishing sustainable competitive advantage are important steps that can lead to more advanced capabilities. This section shares how organizations can further integrate risk management with the strategy-setting process. Making it happen: "Executives need to know what standards to use - and the pitfalls to avoid - when evaluating their ERM approach," warned Gibbs. "Protiviti's experts provide guidance on how to manage the ERM implementation, and how to know when it's completed." Added Gibbs, "Our objective is to bring clarity to the dialogue around ERM. Toward that end, we have also released Issue 6 of The Bulletin - our corporate governance and risk management newsletter - titled Enterprise Risk Management: Practical Implementation Advice. As executives and directors broaden their focus beyond Sarbanes-Oxley compliance, we think they will find ERM a useful approach for identifying and managing continuously their organization's significant business risks." To request a complimentary copy of Guide to Enterprise Risk Management: Frequently Asked Questions or Issue 6 of The Bulletin, visit www.protiviti.com to download complimentary PDFs, or call 888.556.7420. About Protiviti Inc. Protiviti (www.protiviti.com) is a leading provider of independent risk consulting and internal audit services. The firm provides consulting and advisory services to help clients identify, assess, measure and manage financial, operational and technology-related risks encountered in their industries, and assists in the implementation of the processes and controls to enable their continued monitoring. Protiviti also offers a full spectrum of internal audit services to assist management and directors with their internal audit functions, including full outsourcing, co-sourcing, technology and tool implementation, and quality assessment and readiness reviews. Protiviti, which has 50 locations in North America, Europe, Asia and Australia, is a wholly owned subsidiary of Robert Half International Inc. (NYSE symbol: RHI). Founded in 1948, Robert Half International is a member of the S&P 500 index. # # # Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services.
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