Ronald Reagan and the Belgian law dealing with subsidy conditions Ronald Reagan used this old Russian proverb (“Doveryai, no proveryai”) when referring to his relationship with the Russians in the context of the nuclear disarmament in the 1980’s. In essence, the proverb refers to the understanding that any agreement needs to be accompanied by some … Continue reading Trust, but verify
The Run-Up had an excellent interview with the journalists who published the article on Donald Trump's 1995 tax returns. What I found especially interesting is the diligence with which these journalists checked the authenticity of the documents and the way they approached it. They zeroed in on problems they identified both in form and content … Continue reading Journalists are (or should be) auditors too
TL;DR Organisations have no brains. And even humans, with brains, can barely imagine unexpected risks. Making sure we are adequately prepared for potential risks requires a thorough exercise of risk assessment. Each project or program requires such an effort. However, we often neglect that. Not so obvious When I mention the very simple idea that … Continue reading Failing to plan = planning to fail
This article is a rewrite of an article I originally wrote about six years ago on a now discontinued blog aptly titled “complexity risk management”. I am reviewing a paper on risk management and felt it relevant to update this post as an additional comment to one of my review points. Whenever I speak about … Continue reading Why I use a static and a dynamic phase in a risk management approach?
Good governance, risk management and internal controls are essential to any organisation or group of organisations that deems itself mature. It's been a pleasure to speak about their relevance at the FGS Finance top 400 meeting on May 12th. 400 top managers of the FGS had come together for a day long discussion on the … Continue reading Speaking about internal controls
Loss of added value Internal audit and external audit both present their findings during the same audit committee meeting. It turns out that both structures independently audited the same entity which is part of the wider organisation. A lot of their findings align. They actually turn out to be comparable to some of the issues … Continue reading Joint risk assessment and single audit, sitting in a tree …
Maria Popova hits one out of the ballpark again with this "animated essay" on the importance of storytelling. Two essential quotes from a great article. In the first one, she describes in a very clear and concise manner the difference and the interrelation between information, knowledge and wisdom: At its base is a piece of … Continue reading The “why” of storytelling