Why Are Risk Managers and Consultants Consumed By The Negative?
The Canadian Institute of Chartered Accountants has produced a variety of excellent board guidance on risk management and other topics. Their latest effort, written by John Caldwell, is A Framework for Board Oversight of Enterprise Risk. It does not meet, in my opinion, the CICA’s normal standard. I am concerned that Mr. Caldwell has defined risk purely from the downside and failed to consider the ability to seize opportunities to achieve or surpass objectives. Does this concern you as much as it does me?