Competition for Risk Assessment Increases

Quality, finance, accounting, and auditing professions will compete to carry out risk management

Ever since the International Organization for Standardization (ISO) included risk-based thinking in ISO 9001:2015, an idea has arisen among some in the quality profession that quality managers can move into the risk management arena without any competition from other professions. This article looks at two recent reports that demonstrate how competition will occur. Further, the competition will come from professions that have more organizational clout than quality managers.

The reports are Gartner Audit Leadership Council’s “2021 Audit Plan Hot Spots Report”¹ and the International Federation of Accountants’ (IFAC) “Enabling the Accountant’s Role in Effective Enterprise Risk Management.”² The Gartner report indicates the key concerns that auditors should be focusing on in upcoming audits. The IFAC report discusses the how accountants can promote and become more involved with an organization’s enterprise risk management (ERM) process.

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Comments

Risk-based thinking

Dear Dr. Kline,

Thank you for your article. Here is an ISO 9001 consultant's perspective. For two consecutive decades we, QMS consultants, have failed to explain to our clients the concept of 'Preventive action', until finally ISO TC 176 gave up on us, and replaced Preventative action with risk-based thinking. Is it any wonder that the scholars of disciplines other than quality regard it as an encroachment? In Russia where I come from, we have a fable about a swan, a crab, and a pike. All three exhausted themselves trying to pull the carriage in three distnctive directions: to the skies, into the river, etc. I hope we find an 'umbrella' framework and avoid this confrontation.

Best regards,

Andrey