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Boeing Airlines finds itself amidst a storm of legal challenges, grappling with a series of incidents highlighting systemic issues in its risk management practices. These are only two of at least seven incidents involving Boeing airplanes in March alone. Why is the glaring lack of records a risk management problem for Boeing?
For example, SVB had a Moody’s A1 issuer rating and KPMG signed off on SVB’s bank’s audit just 14 days before it declared bankruptcy. Their opinions, such as “Audit Opinions” and “Credit Ratings,” are based on the information provided to them, and they cannot be held liable for errors and omissions.
With a one-person team or even two-to-three-person team, there may be no redundancy plan if one is on vacation, another out sick, and the last stuck on the tarmac for four hours of Monday morning because they chose to fly a budget airline for a quick weekend getaway.
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