RIMS PRESS RELEASES


RIMS REPORT -- There is No One Way to Report Risk 11/12/2013

 

  THERE IS NO ONE WAY TO REPORT RISK

RIMS Research Collaboration with Miami University Highlights Competency Perceptions Reflected in Risk Reporting

NEW YORK (November 12, 2013) — According to RIMS’ newly released Executive Research Report “Risk Reports & Perceptions,” risk professionals must consider the types of risk and underlying data when delivering a risk assessment report to the organization’s leadership.

The report,  a product of RIMS’ collaboration with Miami University, was authored by Dr. Dale  Stoel, the university’s Associate Professor of Accountancy; Dr. Brian Ballou, Co-Director, Center for Business Excellence, Ernst & Young Professor of Accountancy; and Dr. Dan Heitger, Co-Director, Center for Business Excellence, Deloitte Professor of  Accountancy.

“Risk professionals need to be knowledgeable about board expectations and competency perceptions when it comes to risk reporting,” said Professor Stoel.  “Findings from this research indicate a need for report preparers to apply different reporting formats based on risk types.”

RIMS members aided in the development and review of both strategic and operational risk reports to ensure the sample accurately represented actual risk reports understood by business managers regardless of industry.

“As it happens, and contrary to conventional wisdom, greater quantification is not always the better answer”, pointed out Carol Fox, RIMS Director of Strategic and Enterprise Risk Practice. 

“RIMS looks forward to continuing its work with Miami University and other academic institutions to further advance our understanding and application of successful risk management practices for our members.”

The full report is free and can be downloaded in RIMS revamped Risk Knowledge library:  www.rims.org/RiskKnowledge.


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About RIMS

As the preeminent organization dedicated to advancing the practice of risk management, RIMS, the Risk Management Society™, is a global not-for-profit organization representing more than 3,500 industrial, service, nonprofit, charitable and government entities throughout the world. Founded in 1950, RIMS brings networking, professional development and education opportunities to its membership of more than 11,000 risk management professionals located in more than 60 countries. For more information on RIMS, visit www.RIMS.org.

 

For more information, contact:

Josh Salter, RIMS communications manager, (212) 655-6059 or jsalter@RIMS.org


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