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Rethinking Risk: How Companies Sabotage Themselves and What They Must Do Differently

By Joseph W. Koletar, CFE

This book’s author is a CFE

Rethinking Risk Book Cover
Rethinking Risk: How Companies Sabotage Themselves and What They Must Do Differently


While executives spend their time scanning the horizon for threats such as predatory competitors or new technological developments, they often fail to draw an accurate picture of the real risks facing their organizations. They assume the data being fed into their risk-monitoring systems is accurate—but not all of it is. They assume their people are honest and conscientious—but not all are. They pack their organizations with legal counsels, CFOs, CIOs, and more in an attempt to mitigate risk—but without a clearly designed and articulated risk management plan. And they, like you, are vulnerable. 

"Rethinking Risk" will radically upend your ideas about risk, both exposing the magnitude of potential problems and offering proven solutions for detecting risk and stopping damage before it snowballs. Packed with lessons gleaned from extensive interviews with risk management experts as well as eye-opening stories from the author’s FBI background and vast risk management experience, "Rethinking Risk" uncovers the best ideas and techniques for evaluating risk and managing it effectively, including how to: 

  • Spot the red flags of fraud, the most prevalent form of risk, and one that routinely results in lost revenues of five percent.
  • Recognize that many traits valued in senior executives—including being innovative and aggressive—can also be linked with excessive risk-taking.
  • Assess your performance and compensation plans to see whether they might entice people to engage in data-fudging or full-scale abuse.
  • Tap into the knowledge of your employees, who can be the richest and most productive source of information regarding risk.

Implement the best low-cost strategies for improving your risk-assessment capability—and avoid the tactics that fail to deliver results. 

The pervasiveness of risk can fill you with paranoia and dread—or it can motivate you to develop a practical, coherent risk management system for dealing with problems before they get out of hand. Get motivated, and save yourself headaches, heartache and continual blows to your organization’s financial health

Product Details

This book's author is a CFE.
Label Value
ISBN 978-0-814-41496-5
Publisher Amacom
Published Copyright 2010
Pages 242
Format Hardcover

Table of Contents

Chapter 1 Observations About Risk
Chapter 2 Fraud as an Example of Risk
Chapter 3 Frontline Interviews with Risk Management Experts
Chapter 4 How We Attempt to Deal with Risk
Chapter 5 Why Things Go Wrong
Chapter 6 How Risk Is Discovered
Chapter 7 Organizational Intelligence - Practical Reality
Chapter 8 Organizational Intelligence - Thought and Theory
Chapter 9 Using Consultants
Chapter 10 Concluding Thoughts

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