14-09-2017

Risk Management Journey Through Hurricane Irma

In his blog, IIA President and CEO Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession. Here's an excerpt from his latest post:

My blog post is a bit delayed this week because of the unwelcome​ visit to Central Florida by Hurricane Irma. Like the thousands of people in Texas affected recently by Hurricane Harvey, families in several areas of South Florida, particularly the Florida Keys, face weeks and months of rebuilding. And, sadly, there were losses of life, though thankfully it was limited.

I am relieved that, despite widespread power outages, flooding, and property damage, our IIA Headquarters staff emerged safely from the storm and our offices reopened today to serve our global members.

It is often said that we manage risks every day in our personal lives. Whether we are deciding on insurance coverage for our homes or automobiles or investment strategies for retirement, we are constantly evaluating potential risks and making decisions that will mitigate them based on our personal appetites for risks.

As I reflect on the past week, I can't help but think about all of the decisions I made in preparation for the potential arrival of Hurricane Irma. While I was consciously thinking about risks, or defining or making decisions as I do as a CEO in my professional capacity, I was nonetheless very much in a risk management mode not unlike that modeled on a corporate level by COSO or ISO.

Read the full InternalAuditor.org blog post from IIA President and CEO Richard Chambers.

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