143,762 research outputs found

    The role of chief risk officer in adoption and implementation of enterprise risk management-A literature review

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    Recently many companies view risk management from a holistic approach instead of a silo- based perspective. This holistic approach is called Enterprise Risk Management (ERM). Indeed, ERM is designed to assess the ability of board of directors and senior management in managing total portfolio of risk faced by an enterprise. Based on relevant literature Chief Risk Officer (CRO) is one important factor which may influence companies in deciding whether to adopt an ERM. The role of the CROs is to work with other managers to set up an effective and efficient risk management system and disseminate risk information to the entire enterprise. The main purpose of this paper is to provide a comprehensive overview of the influence of CRO on adoption and implementation of ERM. It was found that presence and quality of CRO are important determinants of ERM adoption and implementation. This research clarifies that there is a lack of research in respect of the effect of CRO in implementation of ERM in developing countries. This study is useful for companies which wants to adopt ERM or wants to improve the stage and level of ERM implementation in their companies

    THE VERACITY OF THE ERM IMPLEMENTATION: AN INTERNAL AUDITING PERSPECTIVE

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    The internal audit profession has become a focal point after the collapse of various giant corporations. The primary research objective of the study is to investigate the extent of the internal auditors’ roles in the implementation of the Enterprise Risk Management (ERM). The primary data collection was through a questionnaire survey. The results of the hierarchical multiple regressions indicated that the degree of the internal auditors’ roles in the ERM could strengthen the relationship between the internal audit effectiveness and ERM implementation. The nature of the internal auditors’ involvement in the ERM implementation was consistent with the recommendations in the position paper on the role of internal auditors in the ERMInternal Audit Practices, Professional Practice Framework, ERM, Internal auditing, COSO ERM Framework

    Using bacterial biomarkers to identify early indicators of cystic fibrosis pulmonary exacerbation onset

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    Acute periods of pulmonary exacerbation are the single most important cause of morbidity in cystic fibrosis patients, and may be associated with a loss of lung function. Intervening prior to the onset of a substantially increased inflammatory response may limit the associated damage to the airways. While a number of biomarker assays based on inflammatory markers have been developed, providing useful and important measures of disease during these periods, such factors are typically only elevated once the process of exacerbation has been initiated. Identifying biomarkers that can predict the onset of pulmonary exacerbation at an early stage would provide an opportunity to intervene before the establishment of a substantial immune response, with major implications for the advancement of cystic fibrosis care. The precise triggers of pulmonary exacerbation remain to be determined; however, the majority of models relate to the activity of microbes present in the patient's lower airways of cystic fibrosis. Advances in diagnostic microbiology now allow for the examination of these complex systems at a level likely to identify factors on which biomarker assays can be based. In this article, we discuss key considerations in the design and testing of assays that could predict pulmonary exacerbations

    A strategic approach to making sense of the “wicked” problem of ERM

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    Purpose – The purpose of this paper is to provide an approach to viewing the “wicked” problem of electronic records management (ERM), using the Cynefin framework, a sense-making tool. It re-conceptualises the ERM challenge by understanding the nature of the people issues. This supports decision making about the most appropriate tactics to adopt to effect positive change. Design/methodology/approach – Cynefin was used to synthesise qualitative data from an empirical research project that investigated strategies and tactics for improving ERM. Findings – ERM may be thought of as a dynamic, complex challenge but, viewed through the Cynefin framework, many issues are not complex; they are simple or complicated and can be addressed using best or good practice. The truly complex issues need a different approach, described as emergent practice. Cynefin provides a different lens through which to view, make sense of and re-perceive the ERM challenge and offers a strategic approach to accelerating change. Research limitations/implications – Since Cynefin has been applied to one data set, the findings are transferrable not generalisable. They, and/or the approach, can be used to further test the propositions. Practical implications – The resultant ERM framework provides a practical example for information and records managers to exploit or use as a starting point to explore the situation in particular organisational contexts. It could also be used in other practical, teaching and/or research-related records contexts. Originality/value – This paper provides a new strategic approach to addressing the wicked problem of ERM, which is applicable for any organisational context

    Non-Linear Exchange Rate Dynamics in Target Zones: A Bumpy Road Towards A Honeymoon Some Evidence from the ERM, ERM2 and Selected New EU Member States

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    This study investigates exchange rate movements in the Exchange Rate Mechanism (ERM) of the European Monetary System (EMS) and in the Exchange Rate Mechanism II (ERM-II). On the basis of Bessec (2003), we set up a three-regime self-exciting threshold autoregressive model (SETAR) with a non-stationary central band and explicit modelling of the conditional variance. This modelling framework is employed to model daily DM-based and median currency-based bilateral exchange rates of countries participating in the original ERM and also for exchange rates of the Czech Republic, Hungary, Poland and Slovakia from 1999 to 2004. Our results confirm the presence of strong non-linearities and asymmetries in the ERM period, which, however, seem to differ across countries and diminish during the last stage of the run-up to the euro. Important non-linear adjustments are also detected for Denmark in ERM-2 and for our group of four CEE economies.target zone, ERM, non-linearity, SETAR.
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