Transcription of Reporting and managing risk
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Reporting and managing risk
Reporting and managing risk A look at current practice at Tesco, RBS, local and central governmentResearch executive summary seriesVolume 6 | Issue 8 Margaret Woods Aston University, UKReporting and managing risk A look at current practice in the private and public sectors | 1 Key findings: Risk management is no longer solely a financial discipline, nor is it simply a concern for the internal control function. Where organisations retain a discrete risk management cadre often specialists at monitoring and evaluating a range of risks their success is dependent on embedding risk awareness in the wider culture of the enterprise.
4 | Reporting and managing risk A look at current practice in the private and public sectors Tesco: risk in the round • Customer loyalty is the group’s defining objective. • An easy to use version of the balanced scorecard helps all staff understand their responsibilities. • Risk management is embedded in day-to-day operations,
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