Risk Management "White Paper" Available.

• Position: Issuance of publication on risk management by American Institute of Certified Public Accountants - Brief Article

To help enhance CPAs' role as trusted business advisers who assist business managers in maximizing their potential for success, the AICPA and the Canadian Institute of Chartered Accountants have published a "white paper," Managing Risk in the New Economy.

The document, which was written primarily for CPAs who provide or plan to offer risk services to their clients or employers, describes a generic framework or set of steps for risk management based on current best practices. It is applicable to any size or type of organization.

Although each organization has its own unique approach to risk management, the white paper's chapters cover a number of consistent steps that have emerged as current best practice:

* Establish the context.

* Identify risks.

* Analyze and assess risks.

* Design strategies for managing risk.

* Implement and integrate risk management.

* Measure, monitor and report.

The paper also includes illustrative case studies for each step.

Managing Risk in the New...