The role of the board of directors in Enterprise Risk Management (ERM) is changing significantly and becomes increasingly challenging due to major trends like cloud migration or big data, as well as initiative in mobile computing such as Bring-Your-Own-Devices (BYOD).
The board of directors and senior management have to re-think periodically their ERM approaches, concepts, techniques and tools to meet new business objectives and to achieve processes enhancements.
Adopting a structured approach to ERM by using industry best practices such as COBIT, COSO, ISO 31000, ITSM/ITIL, etc. provides a vital instrument to develop a common language that builds a "community of purpose" between operations and strategic business, and facilitates the discussion across the organisation.
Cloud computing in particular impacts the full bandwidth of financial risks, infrastructure risks, market risks as well as reputational risks. In the latest paper published by the...