Risk Assessment
& Audit Planning

How to Identify and
Manage Emerging Risks

The Risky Trade-off
of Risk Assessment

Superior risk identification is key to managing and
mitigating risks. The size and complexity of many
organizations, and the constantly changing risk
environment, means risk identification and
assessment often fails to provide the right level of
information necessary for effective decision making.
Executives with limited resources face the difficult
trade-off of meeting expanding expectations with the
necessary, detailed evaluations of critical risk areas.

We needed to engage a large cross section of senior leadership in a short amount of time.

Joseph Seider
Audit Manager
Monsanto Company

Embed Emerging Risks
In Your Audit Plan

The best Chief Audit Executives and Enterprise Risk
Management executives use external sources to validate
their audit plan and risk coverage. To successfully navigate
the changing and complex risk environment, follow a
five-step approach to building an audit plan:

  1. Prioritize risk assessment inputs
  2. Align the audit plan to strategic objectives 
  3. Collaborate with other assurance functions and
    rationalize audit activities
  4. Gain stakeholder buy-in for the audit plan
  5. Build flexibility into planning

You help my team function better with a common learning platform, and with the latest developments in internal audit.

Jorge Bulleraich
VP, Chief Audit Officer
Delhaize Group

Audit Hot
Spots for 2018

Every year, we highlight new trends in emerging risk areas that internal audit departments will focus on across the next 6 to 12 months. These hot spots research helps audit executives:

  • Benchmark Audit Plan Coverage: Compare and validate audit plan coverage.
  • Educate the Audit Committee: Include emerging risk trends in audit committee interactions.
  • Sense Emerging Risks: Uncover areas of increasing risk exposure. 
  • Prepare Management: Use key questions to prepare management for risk assessment or audit scoping discussions.

Monitor
Emerging Risks

Risk Management executives are facing an environment of
unprecedented volatility – market conditions change rapidly
and new risks continue to proliferate. To help Enterprise Risk
Management executives identify and respond to emerging
risks, we provide a quarterly report including:

  • Risk insight from over 100 senior executives at leading
    companies
  • Analysis of top emerging risks, including an estimate of
    their impact, probability, and velocity
  • Mitigation strategies to help you navigate today's
    complex risk environment

The Product

CEB Audit
Leadership Council

Innovative chief audit executives (CAEs) use CEB Audit Leadership Council to optimize the performance of their function and business. Our research and insights are rooted in the challenges our members deem most important and span topics that impact your organization's day to day as well as longer-term strategic initiatives. We use relationships and learnings from the best CAEs to help you and your team save time and make better decisions.

CEB Risk Management
Leadership Council

Chief risk officers and Enterprise Risk Management
leaders join CEB Risk Management Leadership Council
to optimize the performance of their risk management
function and their business. Our research and insights
provide chief risk officers and ERM leaders with a
roadmap and a suite of implementation tools to support
identify emerging risks, ensure risk governance, manage
ERM processes, build a risk culture, and scale risk
management across the business.

Meet the Experts

Meet the experts behind our Audit and Risk insights.

Ian Beale

Audit & Compliance Principal
Executive Advisor

Read Biography

Matt Shinkman

Risk Practice Leader


Read Biography

Malcolm Murray

Audit Research Leader


Read Biography

Success Stories

Ferring Pharmaceuticals - Director Internal Control & Risk Monitoring
ASML Holding N.V. - Emerging Risks

Decision Making Tools

Report

Audit Hot Spots 2018

Learn about the top risks that have caught the attention of boards, audit committees, and executives this year.

Report

Emerging Risks Report Q3 2017

The latest quarterly summary of the threats risk, audit, and compliance executives tell us they see looming on the horizon.

Journal

First Quarterly

Quarterly journal for Finance, Risk, and Strategy executives addressing business challenges that require mobilization of the C-suite.

Unlock These
Resources Now

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CEB

Case Study

Erickson Incorporated was struggling to improve the maturity of its legal risk management and compliance functions in a quick and efficient manner. 

Deere & Company's risk management leader was able to train a new member of staff using our resources.
 

Recent Blog Posts

Featured Press

Risk is in a unique position to enable growth instead of inhibit it. As companies seek growth, the risk, strategy, and corporate finance functions have an opportunity to collaborate and take the right risks to grow.

The risk that employees get complacent from frequent changes proposed by an organization, and the risk that the culture in a company doesn’t tackle inappropriate behavior are worrying executives.

For the business to perform risk tasks effectively, risk management goals and guidance must be communicated to risk owners across the enterprise. Here are 3 scalable tactics for leaders.

CEB has helped my risk management function to foster a more risk aware culture.

Bernard Fourie
Director Internal Control and Risk,
Ferring Pharmaceuticals