GAFM Articles

Risk: Key Steps for Management (December 2006) | Risk Management
by Monash University

For boards, audit committees and management keen to address the issue of risk management, the Ernst & Young study emphasises several key steps that require attention:... ...[ Read More ]

Risk Management Education and Training (December 2006) | Risk Management
by Michael Vincent

Education and training are the key to understanding this new world of risk that is the environment that we must deal with today to achieve business survival and success. It is difficult to give a brief overview of the educational needs of a risk manager because they are a diverse breed covering many disciplines and functions. Importantly to start with we should distinguish between education and training as the words are used interchangeably and without due regard to their fundamental meaning. ...[ Read More ]

Risk Management – an educational perspective (December 2006) | Risk Management
by Michael Vincent

A discussion with a colleague, Kevin Tant, produced the following outline for successful recognition of the concept of risk management as a new management discipline. A lot of readers will see the obvious stated here, luckily you are the converted. Risk management is the ability to identify, measure and finance the risks facing an entity in an effective way to ensure corporate growth and survival. ...[ Read More ]

Economic Downturn – Boom or Bust (December 2006) | Risk Management
by Michael Vincent

Whether we like it or not we are entering an economic downturn, or in blunt terms a recession, how deep or how long is yet to be seen. ...[ Read More ]

Did we learn the lesson from Enron: Who will be next? (December 2006) | Accounting
by Prof. Dr. George Mentz - International Lawyer

We have a plethora of laws, standards and regulations in relation to financial reporting. Why? So that investors/stakeholders are supposedly provided with a superior quality of information that will enable them to make better informed judgments about the financial viability of potential investments. So if this is the objective of all of the rules and regulations, what happened to Enron? ...[ Read More ]