Connie Woodroof's blog

ANNUAL STATEMENT

Enterprise Risk Management (ERM) More Important Than Ever

Recently StoneRiver conducted an online survey which asked respondents about their company’s Enterprise Risk Management (ERM) process. Half of the respondents said they have an ERM process, but of those, 23% said it isn’t a formal process with reporting. Another 12% indicated they currently did not have a formal ERM process, but were developing one, 24% indicated their company did not have an ERM process and 15% of the respondents indicated they didn’t know.

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Wanted: One Crystal Ball

Anyone involved with regulatory financial reporting and accounting knows that changes within both are fairly common. However, the changes that are now being contemplated by the NAIC are beyond the “normal” changes we have all become accustomed to. So what are those possible changes, and why are they being considered?

Be sure to check out the new issue of NAIC Focus,

There will be a lot of other activity occurring throughout the year and the NAIC Focus is the place to bookmark for current information.

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