SHORT TAKES Available to Purchase

According to a recent Arthur Andersen study, only 5% of senior executives have absolute confidence that they can identify, control, or manage business risk. However, the study pointed to a number of “red flags” that can alert these executives to the dangers ahead: failing to link business risk to its effect on shareholder wealth; solely focusing on internal accounting risk control; failing to create a CEO‐supervised systematic approach to source, measure, and monitor risks.