Risk identification is the process of determining risks that could potentially prevent the program, organization, or investment from achieving its objectives. It includes documenting and communicating the concerns.

“As a member of management, a board member or finance professional, you will eventually ask or be asked, “What are the risks….?” or “Can you tell me the probability of success…? A sensitivity analysis is a way to quantify the risks.”

“Many times Board members ask, “What is my role?” or “How can I be effective as a Board member?”. The Governance Operating Model can help answer these questions.”

“A natural disaster, security breach or equipment failure is unpredictable and devastating. In order to ensure the continuity of your organization, a post-incident review should be an important component of your disaster recovery planning”

Risk analysis is the process of identifying and analyzing potential issues that could negatively impact key business initiatives or critical projects in order to help organizations avoid or mitigate those risks.

Debt covenants are agreements between a company and its lenders that the company will operate within … A debt covenant violation is a breach of contract.

In business and accounting, information technology controls (or IT controls) are specific activities performed by persons or systems designed to ensure that business objectives are met. They are a subset of an enterprise’s internal control.

“IT controls are an essential component of an organization’s overall internal control that must be addressed by auditors. This article discusses general controls and the review of the general control, a must read for all auditors and their clients.”

The five Cs of credit is a system used by lenders to gauge the creditworthiness of potential borrowers.

The process of building a sustainable, comprehensive internal control environment sufficient to comply with section 404 of the Sarbanes-Oxley act of 2002 (SOX) requires a significant investment of organizational resources.