July 2026

riskacademy.blog · Oct 13, 2025 · Curated 2 weeks ago

The $221 Billion Paradox: Why Companies Are Overpaying and Underinsured in a Dysfunctional Insurance Market

This article exposes a critical paradox in commercial insurance: corporations are simultaneously overpaying for coverage and suffering from significant underinsurance, leading to a staggering $221 billion annual global property protection gap. Audit and assurance professionals should be acutely aware of these systemic market failures, including information asymmetry, broker conflicts of interest, and pricing inefficiencies, as they directly impact financial resilience, risk exposure, and the effective allocation of capital within their organizations. Understanding these dynamics is crucial for evaluating insurance programs, assessing true risk exposure, and advising on strategic risk financing decisions.

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riskacademy.blog · Oct 13, 2025 · Curated 2 weeks ago

Why Generic AI Fails at Risk Management: A Call for Specialized Tools

This article argues that general-purpose AI, like ChatGPT, provides misleading and often harmful advice for risk management due to its reliance on prevalent, yet flawed, online information. For audit and assurance professionals, this highlights the critical need to distinguish between superficial compliance-driven risk management (RM1) and quantitative, decision-integrated risk management (RM2). Relying on generic AI for risk assessments can lead to misallocated capital and flawed strategic decisions, underscoring the importance of specialized, scientifically grounded AI tools and a deeper understanding of risk principles.

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riskacademy.blog · Oct 10, 2025 · Curated 2 weeks ago

Risk Awareness Week 2025: A Virtual Hub for Practical Risk Management Insights

Risk Awareness Week (RAW) 2025 is set to be a significant virtual event for risk and assurance professionals, offering a platform focused on practical, evidence-based risk management. Unlike traditional conferences, RAW emphasizes decision science, probability, and measurable results, providing a valuable resource for internal auditors seeking to move beyond conventional frameworks and enhance their organization's risk intelligence.

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riskacademy.blog · Sep 29, 2025 · Curated 2 weeks ago

Risk Management's Architect Admits Flaws: ISO 31000 Co-Author Calls for a Shift to Decision Support

Grant Purdy, a co-author of the ISO 31000 risk management standard, contends that the discipline has strayed from its original purpose. After 50 years in the field, Purdy argues that risk management has become a compliance-driven exercise, generating paperwork and false confidence rather than genuinely aiding business decisions. This critique from a foundational figure in risk management highlights a critical need for internal audit and assurance professionals to re-evaluate current practices and refocus on practical decision support.

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riskacademy.blog · Sep 9, 2025 · Curated 2 weeks ago

Beyond Compliance: Is Your Risk Management Truly Creating Value?

This article challenges internal audit and assurance professionals to critically evaluate whether their organization's risk management practices genuinely add value or merely serve as 'compliance theater.' It argues that effective risk management should directly influence critical business decisions, improve financial outcomes, and enhance operational resilience, rather than just generating reports or satisfying auditors. The piece advocates for a shift towards quantifiable, decision-centric risk analysis.

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tamikaslowley.wixsite.com · Jul 24, 2026 · Curated 2 weeks ago

GRC Maturity: Beyond Compliance to Competitive Advantage

This article argues that GRC maturity is not merely about regulatory compliance but is a critical driver of competitive advantage. Internal audit and assurance professionals should recognize that robust GRC frameworks enable better strategic decision-making, effective resource allocation, and enhanced organizational resilience, ultimately leading to superior performance and long-term success. Shifting focus from basic compliance to strategic GRC maturity can transform an organization's operational effectiveness and market position.

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tamikaslowley.wixsite.com · Jul 19, 2026 · Curated 2 weeks ago

10 Red Flags: Identifying Low GRC Maturity in Your Organization

This article outlines ten critical indicators that an organization may have low Governance, Risk, and Control (GRC) maturity. For internal audit and assurance professionals, understanding these signs is crucial for identifying areas of weakness, prioritizing audit efforts, and guiding management towards more robust and integrated GRC practices that enhance resilience and informed decision-making.

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tamikaslowley.wixsite.com · Jul 18, 2026 · Curated 2 weeks ago

Assessing GRC Maturity: A Roadmap for Internal Audit and Assurance Professionals

This article provides a comprehensive overview of Governance, Risk, and Control (GRC) maturity, outlining a 0-4 stage model. For internal audit and assurance professionals, understanding an organization's GRC maturity is crucial for tailoring audit plans, identifying key areas for improvement, and effectively advising leadership on strengthening governance frameworks and risk management practices. It emphasizes that GRC maturity is a continuous journey, not a destination, and offers practical insights into the benefits of advancing through the stages.

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tamikaslowley.wixsite.com · Jul 17, 2026 · Curated 2 weeks ago

Understanding GRC Maturity: A Foundation for Organizational Resilience and Effective Decision-Making

This article introduces the concept of GRC maturity, defining it as the effectiveness and continuous improvement of an organization's governance, risk management, and compliance processes. For internal audit and assurance professionals, understanding GRC maturity is crucial for assessing an organization's control environment, identifying areas of weakness, and guiding strategic improvements that enhance resilience and stakeholder confidence.

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tamikaslowley.wixsite.com · May 23, 2026 · Curated 2 weeks ago

GRC for MSMEs: Navigating Challenges and Building Resilience

This article highlights the critical importance of Governance, Risk, and Control (GRC) for Micro, Small, and Medium Enterprises (MSMEs). It emphasizes that GRC is not just for large corporations but is essential for MSMEs to ensure accountability, transparency, and strategic direction, ultimately leading to sustainable growth and resilience despite limited resources and unique challenges.

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