- For years, risk governance meant risk management, with a relatively narrow focus on specific areas: loans, legal, and possibly IT. Then, everything went sideways in 2008-2009, and regulators saw the need for a more proactive, comprehensive risk governance strategy. Within the past five years, new rules and guidelines have begun changing the flaws regulators could see boards of directors were not engaged at the right level; board members and executives weren’t getting the right information to make informed decisions; and management didn’t have tools in place to facilitate a timely and comprehensive analysis of overall risk.
- A law firm counseling a government agency needed a firm that could discreetly perform inquiries and testing of the CFO’s financial transactions to explore for potentially fraudulent or imprudent transactions.
- Baker Tilly was engaged by a higher education client to conduct a review of potential policy violations related to travel and expense reimbursements that were submitted by certain individuals.
- An urban research university with a sprawling campus in a major metropolitan area was undertaking a multiyear project to renovate and expand its real estate. The university asked Baker Tilly to audit its construction practices and provide recommendations to strengthen its management of capital projects.
- Federal Home Loan Bank of Chicago received an independent and in-depth credit model assessment as Baker Tilly delivered on its promises.
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