Risk Management: Theory and Practice

This book lays the foundation for risk management applications that are broad enough to be applicable to national practices and narrow enough to be relevant to the decisions of individuals and organizations. It clarifies much of the overlap and confusion surrounding common concepts, distinguishing between risk and crisis and explaining how to deal with each. It also differentiates between risk management and internal auditing, recognizing that this overlap and confusion significantly contributes to the limited adoption of a scientific approach to corporate risk management as presented in the book.