What is it about?
This paper evaluates the current status of enterprise risk management (ERM) in business organizations in Dubai.
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Why is it important?
The survey questions encompass the five components of COSO framework: control environment of the businesses, risk assessment, control activities, information and communication, and monitoring.
Perspectives
The study findings indicate that there is need for a more comprehensive awareness about ERM across all categories of businesses in Dubai. While Finance & Banking institutions to a greater extent implemented various risk tools for managing their risks, other businesses were not even aware of the concepts of risk and its management. The study outlines five-step systematic process that helps businesses in Dubai to make well-informed decisions for managing enterprise risk.
Dr Ananth Rao
University of Dubai
Read the Original
This page is a summary of: Evaluation of Enterprise Risk Management (ERM) in Dubai – An Emerging Economy, Risk Management, June 2007, Nature,
DOI: 10.1057/palgrave.rm.8250031.
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