Author:hope-kiwekete

The risk landscape is ever changing and there will never be a dull moment for risk practitioners Many organisations are striving to uplift the communities in which they operate through corporate social responsibility programmes. South Africa recently experienced unrest in various parts of the country. The rationale on the ground is that most of this unrest was triggered by social challenges faced by the communities in question.  Just like a troublesome child, social risks are noticeable and their impact is […]

One of the most frequently asked questions is: how often should risks and opportunities be reviewed and monitored? The answer helps us establish whether an organisation’s risk-management process is effective The answer also has a significant influence on an organisation’s choice of risk/opportunity rating methodology at a given time. Above all, it puts a spotlight on its internal risk and opportunity control environment. Although not comprehensive, the key questions we are discussing provide an understanding of what one could expect […]

It is not too late for all sectors of industry to take lessons from the recent Boeing 737 MAX tragedy and adopt workplace strategies that focus on the benefits of a risk mindset in operations and activities In March this year, the crash of an Ethiopian Airlines Boeing 737 MAX claimed the lives of all the passengers and crew. Since then, the spotlight has been firmly fixed on the aircraft manufacturer’s representatives, who have been hard-pressed to issue assurances that […]

From natural environmental disasters to the impact on the environment by human activity, there are countless factors to consider when it comes to the management of environmental risks During January 2019, the World Economic Forum published the 14th edition of the Global Risks Report 2019. The report highlighted that extreme weather conditions continue to be a threat. In March 2019, the world watched Cyclone Idai hit Mozambique, Malawi and Zimbabwe, leaving shocking devastation in its unforgiving path. When looking at […]

During December 2018, I experienced a scenario that could trigger a debate on what happens when risk controls fail One of the critical skills needed by a bank teller is the ability to recognise potential risks related to cash transactions, as well as the ability to utilise the controls that are in place to mitigate these risks. The scenario I experienced involved a cash transaction. After all my details were verified at the information desk, I was issued a bank […]

The International Organization for Standardization (ISO) has published its new quality management standard, ISO 9004:2018, which aims to help companies achieve sustained success. According to ISO, before any standard is developed, guidance is needed to “confirm that a new international standard in the subject area is really needed”. This applies to the ISO 9004:2018 Quality management – Quality of an organisation – Guidance to achieve sustained success. As its title suggests, ISO 9004:2018 provides “guidance for organisations to achieve sustained […]

Why do some employers fail to manage occupational health and safety (OHS) risks? General Colin Powell is a retired United States (US) Army general and former US National Security Advisor. He narrates how on one occasion, during an airborne training session, they were preparing to parachute from a helicopter on a rainy night: “I yelled for the men to recheck their hookups one last time. Then like a fussy old woman, I started checking each line myself, pushing my way […]

The new standard places emphasis on risks, opportunities and auditor competence. Have you ever wondered why auditors are often referred to as the backbone, ears and eyes of top management? This is because the auditors can provide a diverse and independent appraisal of an organisation’s operations and activities. The third edition of ISO 19011:2018 Guidelines for auditing management systems has been revised and published by the International Organisation for Standardisation (ISO). It replaces the second edition of 2011. The Organisation […]

“Unmanageable fraud and corruption” has been identified as one of South Africa’s top risks. Could Exploring the ISO 37001:2016 Anti-Bribery Management System provide a solution? The 30th African Union Summit, held in Addis Ababa, Ethiopia, earlier this year, revolved around the 2018 theme for the African Union: Winning the fight against corruption: A sustainable path to Africa’s transformation. This was a most fitting “call to action” for the continent. Since its inception in 1995, Transparency International’s Corruption Index has been […]

Exploring the new ISO 31000:2018 risk-management standard. One of the guiding principles behind risk management is the creation of value to the relevant stakeholders. This is why formal risk-management frameworks are put in place to enable stakeholders to identify the probability of risks surfacing and assess their associated consequences – not forgetting establishing the controls to mitigate them. Regardless of their scope of work and geographical locations, organisations have in the past implemented risk-management frameworks guided by the International Organisation […]