The 5 key reasons you want to read about a 'digital journal' for Risk Committees

With the recent announcement of the availability of the iPad in April internationally, announcements surrounding other similar devices is beginning to become more apparent.

The device I am really interested to see in action is the Courier device, as detailed here at this blog site and also on the Engadget site.

Microsoft’s Courier ‘digital journal’: exclusive pictures and details (update: video!) — Engadget.

I have been recently talking a lot more about having the ability to electronically interact in meetings, such as Risk Committee meetings.  The reason this is important to me as a Risk Management professional is it will allow me to deliver a better product to the members of the committee.  How so?

Before I jump into my 5 key reasons you want to read about a ‘digital journal’ for Risk Committees, check out this video.

Here are the 5 key things it will allow me to do:

  1. During the meeting we continually present papers to committee members.  This generally takes place in sending papers out which are printed.  An electronic journal device will allow the members to not have to print the papers and will also allow them to make notes which can be submitted to the presenter for additional feedback.
  2. Real-time interaction during the meeting would allow the presenter to focus the attention of the audience on key paragraphs or parts of the paper being presented.
  3. Electronic recording of meeting members accessing the papers during the meeting and the recording of any notes, would provide regulators and third parties with a traceable history of the paper being presented.
  4. The papers themselves are generally written through the collaboration of multiple parties, and this is generally performed through a series of meetings.  The usage of these journals would allow interaction with electronic document repositories and therefore better version control and management.
  5. And finally, it just makes commercial sense to not have sensitive papers printed and the risks around these papers being left in meeting rooms or misplaced.  Not withstanding the environmental benefits as well.

So, I am sold on the need for these devices, particularly those with a “pen” functionality (something missing from the iPad).

I know the interaction across electronic channels and databases is still some time off, not because the technology cannot do it, but because we have so many different tools and standards.

Some time in the future though, my dream of electronic documents taking over physical documents will occur.


Scott North has extensive experience in enterprise risk management, internal audit, operational risk and compliance, risk strategy, scenario planning, technology risk, technology business analysis, systems design, financial accounting, and management accounting. Scott is a Fellow of the Australian Institute of Chartered Accountants with a Masters Degree from the University of Melbourne in Business and Information Technology. Scott is also a Fellow of the University of Melbourne.

Read More

Related Articles

How to Ensure Your Sustainability Strategy Stays Clean

As we embrace the shift towards a greener economy, sustainability products are on the rise. However, with this growth, we've also seen an increase...

The Future of Australia’s Financial Services Industry: Embracing the Financial Accountability Regime

APRA and ASIC Spearhead a Revolutionary Change in the Financial Sector Introduction Today marks a significant milestone for the Australian financial services industry as the Australian...

Effective Risk Committees

Every Risk Moment Matters