What if the requirements are unclear?

Somewhere on the road between governance and management, someone needs to determine what the requirements are. Then management develops ways to meet those requirements (whether they be legal or corporate), and to test and report how well the company is meeting those requirements.

But how can management do that if the requirements aren’t clearly stated? How can you govern to squishy requirements?

“New Kind of Stress Tests Big-Bank Outlook,” Wall Street Journal, December 30, 2013 (online)

The Federal Reserve is reportedly keeping the “real measures” of the stress tests to themselves, and not letting the banks or the investors know what they are.

Is this a failure of governance, or something else?

Leave a comment

Filed under Communications, Compliance, Controls, Definition, Governance, Information, Requirements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s