If you haven’t read Michael Volkov’s new post, go read it now and come back here. Well, maybe it’s not new for you, but because I was out Monday and Tuesday for Passover, I just saw it this morning.
Talk about hitting the nail on the head. Sometimes I wonder whether it’s the ultimate in hubris, me blogging on the same internet as Tom Fox and Mike Volkov, not to mention Dick Cassin and Mike Koehler. In this instance, Volkov is completely right in saying that a company can’t afford to have controls that are controlling for risks that aren’t real. I call them theoretical risks. It takes time and effort away from controling against actual risks. And money, let’s not forget that, because budget is always an issue.
Anyway, read Mike’s piece. You’ll come away smarter. In fact, that’s a good reason to read everything he writes.