Corporate Culture and ERM
Ditrector Notes (The Conference Board), Vol. 5, July 2013, p. 1-11
11 Pages Posted: 5 Jul 2013
Date Written: July 2013
The attitudes and actions of those viewed as leaders within a company (commonly referred to as "tone at the top") help to define corporate culture and are critical to implementing a successful enterprise risk management (ERM) program. This paper explores the challenges and benefits of creating a risk-aware corporate culture, including the potential legal implications for boards of directors.
Keywords: Risk management, enterprise risk management, corporate culture, fiduciary duties, duty to monitor, board of directors, tone at the top
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