Risk management? How to implement Turnbull's proposals and achieve sound internal
by Andy Wynne
01 Nov 2000
The Turnbull report (issued in September 1999 and available from ) located internal control clearly within the framework of risk management. It also recognised that： profits are， in part， the reward for successful risk-taking in business， the purpose of internal control is to help manage and control risk appropriately rather than to eliminate it.
Risk management is a developing area and there are an increasing numbers of books， papers， periodicals and consultants willing to provide their spin on the topic. The aim of this article is to provide a general introduction to the topic and a framework which it is hoped can be used to understand more clearly the detailed guidance available from other sources. It should also be of assistance to students studying for the new syllabus， especially the proposed Paper 2.6 on Audit and Internal Review.
All managers have to make decisions in the face of uncertainty. Risk is the possibility that they will experience adverse consequences from these decisions， or not successfully exploit the opportunities that become available. The objective of risk management is to enable managers to take risks knowingly， reduce risks where appropriate and strive to prepare for a future that cannot be predicted with absolute certainty.
，我們將會及時處理。