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Best Practices: Implementing an Enterprise
Risk Management Evaluation by Armstrong World Industries, Inc.
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February 6, 2009
Previously published by LexisNexis® Martindale-Hubbell® Counsel to Counsel Magazine on September 2008
Situation: Standard & Poor's (S&P) announced in May that
it will soon make Enterprise Risk Management
(ERM) programs at nonfinancial companies
part of its comprehensive ratings review. According to a recent survey,
roughly 75 percent of nonfinancial companies either do not have or
have just begun implementing an ERM process. In spite of that lack,
S&P expects companies to have at least begun establishing a systematic
approach to ERM within the next year. Additionally, after several boards
were blamed and some directors were forced out earlier this year for
company losses stemming from missed credit market risks, boards of
directors want to know what companies are doing to build credible
ERM programs.
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The views expressed in this document are solely the views of the author and not Martindale-Hubbell. This document is intended for informational purposes only and is not legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. |
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