Chambers explores new ways to navigate uncertainty and turn risks into opportunities
AuditBoard‘s Senior Advisor, Risk and Audit, Richard Chambers, who is a renowned author and the former CEO of The Institute of Internal Auditors, has released a crucial new book, “Connected Risk: Conquering the Perilous Risk Exposure Gap”. Offering readers a deep dive into the challenges facing enterprises in a volatile risk environment, in it, Chambers provides a blueprint for organisations to adopt a “connected risk” approach to reduce silos, leverage technology, and foster collaboration among all key risk management players. The announcement took place at Audit & Beyond, the premier event for audit, risk, and infosec leaders, which saw a record number of attendees with 11,000 practitioners attending both in-person and virtually.
This latest release builds on Chambers’ earlier books “The Speed of Risk: Lessons Learned on the Audit Trail, 3rd Edition”, “Trusted Advisors: Key Attributes of Outstanding Internal Auditors, 2nd Edition” and “Agents of Change: Internal Audit in the Era of Permacrisis, 2nd Edition”. His previous works explore his experiences gathered over 40 years in internal audit, the key traits defining internal auditors who are recognised as trusted advisors within their organisations, and the evolution of the profession as change agents who navigate risk turbulence to drive business value.
“In the first half of the 2020s, we have learned that managing risks in silos only creates more risk,” said Chambers. “The approach I advocate in this book is one termed ‘connected risk’ — a modern, cross-functional, and technology-enabled approach to managing risk across the enterprise. We need to work together — audit, risk management, information security, and beyond — to not only protect but also create value. This book is a call to action for all of us to rethink how we manage risk in this age of constant crisis.”
Drawing on his perspective as an internal auditor, business leader, and board member, Chambers lays out the current state of risk management and the case for connected risk in five parts:
- Part 1 inspects the root causes behind the speed of risk and the devastating value destruction effects we have observed as a result.
- Part 2 assesses the phenomenon of the “risk exposure gap.”
- Part 3 considers how the effects of the risk exposure gap are impacting organisations.
- Part 4 offers a deep dive into connected risk, including identifying the key attributes of connected risk thinkers.
- Part 5 looks forward, sharing strategies and thoughts on the future of risk management.
“This latest book from Richard, like his earlier offerings, should be considered an addition to every internal auditor’s toolkit — and is a ‘must-read’ for any risk-focused professionals across the three lines looking to elevate their impact and profession,” said David Hill, CEO at SWAP Internal Audit Services. “Delivering an inspired call to action, Richard outlines key attributes of connected risk thinkers and offers practical solutions for influencing change, aligning terms and technologies, and future proofing for risk resilience. Point by point, Richard makes the case for a reinvigorated approach to risk management that empowers professionals to rethink how they work together.”
The book has been lauded by observers for its forward-thinking vision, with the Financial Times calling it “a galvanising call to action for auditors and risk professionals to come together.”
To learn more about effective risk management in the era of permacrisis and beyond, visit AuditBoard’s site: https://www.auditboard.com/blog/richard-chambers-releases-latest-book-providing-blueprint-for-the-future-of-connected-risk/
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To learn more about effective risk management in the era of permacrisis and beyond, buy the book via Amazon: https://www.amazon.co.uk/Connected-Risk-Conquering-Perilous-Exposure-ebook/dp/B0DHPVPKCR/
Author -AuditBoard‘s Senior Advisor Richard Chambers
