CEO, CRO & Board of Directors: Any Asset or Liability Concerns?
Asks Growth, ERM expert and Speaker Gary W Patterson, the FiscalDoctor®
International enterprise risk management (ERM) expert and speaker Gary W. Patterson’s article “LIABILITIES OR OVERSTATED ASSETS, HIDDEN IN BROAD DAYLIGHT?” is published by Risk & Compliance, a member of Financier Worldwide. http://riskandcompliancemagazine.com/liabilities-or-overstated-assets-hidden-in-broad-daylight
Articles and surveys abound on the unbelievable loss of faith in institutions across every sector. The author asks where you might either (a) make your financials a more valuable tool supporting crucial decisions or (b) be kidding yourself about your official external financial statement package?
Obtaining your insight can be as simple as answering the three following questions.
What level of risk is being taken throughout your organization that may jeopardize your company’s future?
How well do you understand the risks you or your management team are taking?
As part of the management team, how well do you understand the risks some of your subordinates are taking?
The apparently unrecorded financial million-dollar blind spot leading to the Toyota brake recall would have bankrupted most companies. Toyota will survive; your less wealthy ‘Acme Company’ may not.
Consider discussing your situation with the Gary Patterson. Clients call him their FiscalDoctor® and just as every person needs a medical doctor; every organization needs a FiscalDoctor and periodic fiscal checkups. He also supports special projects for risk assessments, enterprise risk management (ERM), operational risk management (ORM), fiscal checkups, corporate governance, strategic planning updates, and strategic growth diagnostics.
