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An emerging risk management and governance trend for 2008: renewed emphasis on establishing an integrated worldwide risk management plan.

Article Excerpt
Does everyone remember the landmark speech Stephen Cutler, former director of enforcement at the U.S. Securities and Exchange Commission, delivered at UCLA School of Law in September 2004? It was titled, "The Themes of Sarbanes-Oxley as Reflected in the Commission's Enforcement Program." This speech has since become known as the infamous "Gatekeepers Speech." In this speech, Cutler emphasized the importance of the gatekeepers, those people who are responsible for the monitoring and oversight of others in the financial markets. Cutler indicated that these people are the ones in the positions of authority to whom the investing public, the government and others expect will model honesty, integrity and veracity. Emphasis was rightly placed in this speech on the fact that these individuals must be beyond reproach and accountable for their actions.

If you recall the speech, you may recall the rather interesting quote with which Cutler commenced his speech, relating to the impact of fraud and corruption on corporations. It was, "The public corporation is currently under severe attack because of the many revelations of improper corporate activity. It is not simple to assess the cause of this misconduct. Since it has taken so many forms, the one-dimensional explanation that ... such conduct is a way of life, is simply not acceptable."

Most people who heard that speech probably were thinking that this was...

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