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Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC

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Silicon Valley Bank (SVB) Failures in Risk Management: Why ERM vs GRC By Steven Minsky | May 5, 2023 Silicon Valley Bank (SVB) was closed by regulators and reminded us of the recession associated with Lehman Brothers and Washington Mutual Bank in 2008. Some are quick to conclude rising interest rates and COVID-driven disruptions are to blame.

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The Relationship Between Internal Controls and Internal Audits

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Later scandals after the 2008 financial crisis also increased the importance of robust internal controls. Control Activities Control activities are the various procedures, approvals, verifications, reviews, and authorizations implemented to carry out proper risk responses. What Are Internal Audits?

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article thumbnail

The Relationship Between Internal Controls and Internal Audits

Reciprocity

Later scandals after the 2008 financial crisis also increased the importance of robust internal controls. Control Activities Control activities are the various procedures, approvals, verifications, reviews, and authorizations implemented to carry out proper risk responses. What Are Internal Audits?

Audit 52
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Looking Around the Corner: Why ESG Has Never Been More Important

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After the 2008 recession, people lost trust in large corporations. People who skip over this step often miss the mark on execution, or inaccurately assume that ESG is either all about the environment, all about social justice or all about corporate governance. View Now About the Author: Steven Minksy.