The Institute of Internal Auditors (IIA) Foundation published a new book co-authored by Ezerski Endowed Chair Mark L. Frigo and Clinical Professor Richard Anderson. Titled “Assessing and Managing Strategic Risks–What, Why, How for Internal Auditors,” the book was developed from extensive research the two faculty members led in the Strategic Risk Management Lab, part of DePaul’s Center for Strategy, Execution and Valuation.
“The primary purpose of the book was to provide internal auditors and chief audit executives with the knowledge and tools to better address strategic risks in their risk assessment and audit planning processes, and to help their organizations identify and manage these critical risks,” says Frigo.
The book presents key concepts and possible roles and activities for internal auditors related to strategic risks, emphasizing two key processes: the assessment of strategic risks and strategic risk management. It includes a number of management tools that were developed by the authors and applied in a DePaul graduate course on strategic risk management.
“I recommend that accounting professionals and students challenge themselves to develop their knowledge and skills in strategy analysis and strategic risk management,” says Frigo. “This book and the related body of knowledge we are spearheading at DePaul is designed to fulfill this need.”
Also included in the book are interviews and recommendations from chief auditing executives and board members.