New SEC Ruling Promotes Better ERM Practices

U.S. public companies are now beginning to provide greater disclosure about their Enterprise Risk Management (“ERM”) practices due to a new Securities and Exchange Commission (“SEC”) ruling.  As these disclosures emerge, it is becoming apparent that companies are in varying stages of maturity.  In a recent webcast hosted by Marsh, executives from several companies described their experience with the new ruling.  Here is what one of the panelists had to say.

Denise Kuprionis, vice president, secretary and chief ethics and compliance officer for E.W. Scripps Co., a media company, said the new disclosure requirements are good, but they will not be easy for companies to implement.  At her company, she related, evaluating risk involves a wide range of management and requires the management committee that governs risk to both report on perils and give updates. Implementing ERM practices, she said, is not a hindrance to companies taking risk, but serves to encourage management to take a holistic  approach to thinking about risk. “Risk is good and companies have to take risk to be successful,” she noted.

As ERM becomes more widely understood, companies will begin to see how they can utilize it to their competitive advantage.  To learn more about ERM and how Wheelhouse Advisors can help, visit www.WheelhouseAdvisors.com.

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About Wheelhouse Advisors
Wheelhouse Advisors LLC is the publisher of The ERM Current™, an online publication and blog dedicated to providing the latest updates on current trends in Enterprise Risk Management & Control. Wheelhouse Advisors provides cost-effective Enterprise Risk Management & Control solutions to both large and mid-size corporations. To learn more about Wheelhouse Advisors, please visit our web site at www.WheelhouseAdvisors.com.

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