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WEBINAR: Risk-Managing Social Media

This week I was thrilled to take part in a very interesting webinar conversation with Mark Harrison, local MD of internal auditing firm @Protiviti, about the risk management and internal auditing of Social Media.  You can listen to our 60 minute chat below:

(If the player doesn't work for you, you can watch it on the Protiviti site here.)

It is an important conversation I think because the principle barrier to Social Media adoption for the more conservative end of town is the question about how to risk manage it, how to audit it and how to ensure compliancy.  While the marketing and customer care aspects of Social Media are very attractive, the dangers associated with it as far as the legal and risk people are concerned are huge.  Even though Social Media is becoming even more prevalent in society and business, I continually hear surprising anecdotes of companies - quite the reverse of adoption - are actually shutting access to Social Media down.  I personally feel very strongly that this is cutting your nose off to spite your face.  Regardless of the communication benefits of Social Media, the  knowledge management aspects of it - for instance using Twitter as a very powerful news filter - are competitive game changers.

So to talk to an organisation like Protiviti - who conducted some fascinating research on Social media and Risk which you can read more about here - and with an audit professional like Mark about what safeguards can be put in place was most edifying.  The framework Mark outlines as to how companies can design audit models to ensure Social Media is vigilantly monitored, reported on and that compliancy is maintained should give that conservative end of town the reassurance it needs that Social Media has reached a level of maturity they can now depend on.

(This infographic - featured throughout the webinar - is most informative too: