Earlier this week, the Institute of Internal Auditors' Richard Chambers was interviewed by CNBC on the evolving nature of risk management practices in light of the recent financial crisis. Mr. Chambers emphasized the need for corporate boards to set the risk appetite and work with management as well as the internal auditors to monitor the level of risks. In addition, he noted that compensation programs still need to be improved such that risk metrics are included in pay determination. To view the entire interview, click below.
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