"The good thing is that nothing went really seriously wrong--apart, of course, from the economy at large, " says John Bates, general manager of Progress Software, which sells trading risk control systems.

FORBES: Magazine Article

So from mid June to last Wednesday, UBS's risk-control systems did not detect that these big bets were being placed, because its internal accounting system was showing that bets in the opposite direction had also been placed.

BBC: The how but not why of UBS's losing bets

While prior governance and risk control (GRC) systems for IT were essentially large spreadsheets that required a good deal of manual entry, Brinqa actively listens to machine data and other low-level outputs from IT systems, then lets users assign and customize risk indicators for their particular organization.

FORBES: Elevating the IT Risk Management Conversation to the Boardroom

For JPM seems to be suffering from internecine warfare, a faulty reporting systems, m a weak tracking ability on risk control and holes galore in its risk management edifice.

FORBES: What JP Morgan Chase Forgot About 2008

Analytics can also provide guidelines for developing control systems that reward legal, ethical, and prudent risk taking among managers.

FORBES: 5 Myths Of Human Resources Management

Equally serious, there is a high risk that on a day-to-day basis, digital records will not survive unless control systems are applied.

UNESCO: MEDIA SERVICES