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Risk Management Structures Get More Attention, FEI Conference Hears

Accounting Policy & Practice Report, 2009-11, Vol.5 (24), p.1063

Copyright Tax Management Inc. Nov 27, 2009 ;ISSN: 1558-6642 ;EISSN: 1558-6669

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  • Title:
    Risk Management Structures Get More Attention, FEI Conference Hears
  • Author: Marcy, Steven
  • Subjects: Accounting ; Audit committees ; Auditors ; Audits ; Business metrics ; Conferences ; Economic crisis ; Enterprise risk management ; Financial reporting ; GAAP ; Risk management
  • Is Part Of: Accounting Policy & Practice Report, 2009-11, Vol.5 (24), p.1063
  • Description: Companies are eyeing their enterprise risk management structures more closely in the wake of the financial crisis as a financial reporting control exercise. Frank Brod, corporate vice president for finance and administration at Microsoft Corp., said his company has intensified its analysis of ERM with more far-reaching discussions of the issue with his company's audit and finance committees since the advent of the downturn. Sam Ranzilla, national managing partner for audit quality and professional practice at KPMG LLP, had a slightly different perspective, telling the conference that the audit committee might not be the group that should be directly charged with ensuring that enterprise risks are contained. Company audit committees also are taking a heightened interest in key performance indicators that companies publish with earnings reports to measure if goals are being met. Heather Bellini of ISI Group urged those companies that provide both U.S. generally accepted accounting principles data and non-GAAP information to make it easier to reconcile the two rather than obscuring it footnotes.
  • Publisher: Washington: Bloomberg BNA
  • Language: English
  • Identifier: ISSN: 1558-6642
    EISSN: 1558-6669
  • Source: ProQuest Central

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