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 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.

How to Map Your Risks (via

Risk Management | February 12, 2013 | | US Over the last 10 years, many companies have adopted an enterprise risk management (ERM) framework and launched the process by taking steps to identify and assess their risks. But such an exercise for a global company can involve developing a list of…

Robert Berry (108)

Robert (That Audit Guy) Berry is a risk, compliance and auditing advocate, educator and innovator. He helps good professionals become better by creating articles, web services and training that allow them to expand their knowledge network.

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