Auditors Must Understand the Reward Side of Risk

I recently wrote an article discussing the up and downside of risks (Risky Business As Usual).  I strongly believe auditors must be aware of both.  This view sparked a lot of discussions on LinkedIn and emails in my inbox.  I stand by the position that risk management involves managing threats and opportunities.  Recently, I CFO.com article introduced the concept of Value Map in which the traditional risk heat map is modified to include the impact of positive outcomes.  Read below for more details.  While the concept is not new, the execution and examples here are brilliant.