Letter From the Editor

• Author: James B. Edwards
• Published date: 01 July 2017
• Date: 01 July 2017
• DOI: http://doi.org/10.1002/jcaf.22286

5

© 2017 Wiley Periodicals, Inc.

Published online in Wiley Online Library (wileyonlinelibrary.com).

DOI 10.1002/jcaf.22286

Letter From the Editor

Dear JCAF Reader,

On behalf of the Journal

of Corporate Accounting edi-

torial team, I wish to express

our sincere appreciation to

Art Worster, Thomas R. Wei-

rich, and Frank Andera for

their series on “Managing IT

Change.” The installments

in this series have been very

informative and beneficial

to readers. A series conclu-

sion and summary appears at

the end of the current (final)

installment in this issue,

“Managing IT Change—

Program Governance.”

As editor-in-chief, I invite

anyone who is interested in

proposing a series of install-

ments for commissioning in

JCAF to submit your pro-

posal directly to me at jcaf

.editor.edwards@gmail.com.

We are especially interested

in a series featuring “finance”

topics.

CURRENT DEVELOPMENTS

SCENE

Press release of the America n

Institute of CPAs:

Survey: Corporate Risks

Rising—But Risk Man-

agement Efforts Not

Keeping Pace

NEW YORK (March

16, 2017) – New

research from North

Carolina State Univer-

sity and the American

Institute of CPAs

(AICPA) finds most

executives see risks

increasing in both

number and complex-

ity—but those same

executives say their

organizations’ risk

management efforts

may not be staying

abreast of those risks.

The findings are

part of a new report

titled “The State of

Risk Oversight: An

Overview of Enterprise

Risk Management

Practices,” released

jointly by AICPA and

NC State’s Enterprise

Risk Management

(ERM) Initiative.

In a survey of 432

chief financial offi-

cers and other senior

executives, nearly 70

percent of large, public,

and financial service

company respondents

reported that the risks

they face are increas-

ingly complex and

numerous compared to

five years ago. At the

same time, less than

50 percent of those

organizations—and

only 25 percent of all

respondents—described

their risk management

processes as mature or

robust.

“What this study

reveals is that there is a

huge disconnect between

corporate challenges and

how organizations are

responding to them,”

says Mark Beasley, co-

author of the report,

director of the ERM Ini-

tiative and the Deloitte

Professor of Enterprise

Risk Management in

NC State’s Poole College

of Management.

This disconnect

may stem from the fact

that only 25 percent

of survey respondents

felt they had effectively

integrated risk manage-

ment into their strate-

gic planning.

“If risk manage-

ment isn’t advancing

strategic goals, it’s hard

to show its value,”

Beasley says. “And that

means risk manage-

ment can easily slip

down an organization’s

list of priorities.”