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Examines how enterprise risk management can be integrated with corporate governance. Role of the board of directors in corporate governance; Information on the organizational structure of an executive risk committee; Communication among company executives.

An article in the Volume 13, Number 2 issue of the Managerial Auditing Journal introduced a comprehensive business process control model that captures the full spectrum of process controls being implemented by world-class organizations, including value-adding controls focused on quality, cost and time. The purpose of this article is to demonstrate a new approach to flowcharting business processes which highlights the five broad categories of controls included in the model. This approach clearly shows how the various types of controls interact with process activities and provides a basis for evaluating how effectively these controls contribute to the achievement of business process objectives. [ABSTRACT FROM AUTHOR]

Many of the traditional controls that accountants and auditors are most familiar with can be traced to bureaucratic management. This article introduces a business process control model that fully captures the broader array of process controls now being implemented by world-class organizations, including value-adding controls focused on quality, cost and time. The article describes the categories of controls included in the model, presents a new way of mapping process controls that reflects the model, and illustrates the use of the model within the context of an actual business process. The article also discusses the primary benefits of adopting the model. First, the model provides a common business process control language and structure which will facilitate communications and foster a uniform understanding of process controls among senior executives, process owners, accountants and auditors. Second, the model provides a framework for comprehensively assessing business process risks and evaluating and improving business process controls. [ABSTRACT FROM AUTHOR]