Financial Crisis Legacy: Corporate Boards Pushed to Take a Deep Dive into
World of Risk Oversight

    
    Protiviti introduces new monthly publication designed to help board
members
    understand evolving risk issues and address inherent challenges




    
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<p>MENLO PARK, Calif., <chron>Dec. 21</chron> /CNW/ -- In the wake of the global financial crisis, corporate boards of directors face a new set of priorities and intensified responsibility and accountability. Risk oversight is now rising to the top of the priority list, fueled by lessons learned from the crisis and imminent regulation, reform and investor scrutiny.</p>
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    (Logo:  http://www.newscom.com/cgi-bin/prnh/20090115/AQTH541LOGO)

    
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<p>Protiviti, a global business consulting and internal audit firm, has introduced Board Perspectives:  Risk Oversight to help guide board members during this critical time. The monthly newsletter provides ongoing commentary about the risk oversight process as well as practical ideas that will help board members improve and execute their risk-oversight responsibilities.</p>
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<p>"Board members need to re-evaluate everything from the robustness of the company's risk management process to the kinds of information they can access as part of the risk oversight process, all in the context of the company's business model for creating value," said Joseph A. Tarantino, president and CEO of Protiviti. "We're launching Board Perspectives:  Risk Oversight during this time of change to serve as a thought leadership resource for both board members who have a working knowledge of risk as well as those who are just beginning to immerse themselves in the discipline."</p>
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<p>In the first edition, Protiviti explores the critical differences between risk oversight and risk management, defining the oversight process as one through which the board:</p>
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    --  obtains an understanding of the risks inherent in the corporate
        strategy and the risk appetite of management in executing that
        strategy;
    --  accesses useful information from internal and external sources about
        the critical assumptions underlying the strategy;
    --  is alert to the organization's dysfunctional behavior, which can lead
        to excessive risk taking; and
    --  provides timely input to executive management regarding critical risk
        issues.


    
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<p>To delineate risk oversight from risk management, the first issue of Board Perspectives identifies eight key questions that can help boards of directors determine how to clarify and carry out their risk oversight responsibilities. The newsletter also touches on other topics that will shape how boards address their risk oversight duties, including pending regulation.</p>
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<p>"In the post-financial crisis business environment, the companies with the strongest risk management will be in the best position to outperform their competition over the long term," said Tarantino. "As a result, board members can play a significant role in their company's ultimate success or failure through effective risk oversight. Our launch of this publication is intended to help directors as they refine and improve their risk oversight during the next 12 to 18 months."</p>
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<p>Issue two of the newsletter will examine the enterprise risk assessment process. Future topics will be influenced by market developments and feedback from readers. To access a complimentary copy of Board Perspectives:  Risk Oversight or sign up to receive the newsletter via email, please visit <a href="http://www.protiviti.com/boardperspectives">www.protiviti.com/boardperspectives</a>.</p>
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    About Protiviti
    
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<p>Protiviti (<a href="http://www.protiviti.com">www.protiviti.com</a>) is a global business consulting and internal audit firm composed of experts specializing in risk, advisory and transaction services. The firm helps solve problems in finance and transactions, operations, technology, litigation, governance, risk, and compliance. Protiviti's highly trained, results-oriented professionals provide a unique perspective on a wide range of critical business issues for clients in the Americas, Asia-Pacific, <location>Europe</location> and the <location>Middle East</location>.</p>
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<p>Protiviti has more than 60 locations worldwide and is a wholly owned subsidiary of <person>Robert Half</person> International Inc. (NYSE: RHI). Founded in 1948, <person>Robert Half</person> International is a member of the S&P 500 index.</p>
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<p>Protiviti is not licensed or registered as a public accounting firm and does not issue opinions on financial statements or offer attestation services.</p>
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For further information: Kathy Keller of Protiviti, [phone], [email protected] Web Site: http://www.protiviti.com