Home > Uncategorized > Jennifer Lopez v. Emma Stone Wearing Lanvin’s Dress – A Need to Follow Prudent Risk Management, ISO 31000 or COSO, and Implement Internal Controls

Jennifer Lopez v. Emma Stone Wearing Lanvin’s Dress – A Need to Follow Prudent Risk Management, ISO 31000 or COSO, and Implement Internal Controls

May 7, 2012

Jennifer Lopez is stung in this article, Click Here, comparing her to Emma Stone who had worn the same Lanvin (nude, rose, and black color-blocked, long-sleeved dress accented with a crystal snake wrap) dress just months earlier.  This, of course, is not necessarily a fair comparison as the article reports Lopez at age 42 v. Stone age 23.  The dress colors and style also leave much to be desired.  Nevertheless, comparisons should have been anticipated in the context of prudent risk management by Lopez and her people.  What is the likelihood that media would photograph Lopez (probably very high), then take the time to research other stars who had worn the same dress recently (probably at least medium high), and then  write an article comparing who wore the dress better (again, probably medium high).  Then consider, what is Lopez’s risk appetite that such a comparison would occur and/or that she might be compared unfavorably?  Considering the business of Hollywood and star reputation, Lopez’s risk appetite, or her acceptability that such could occur, might be fairly low – although it is good to be in the news, news of this nature should not be encouraged.  Now, I don’t know what steps Lopez and her people took to prevent a situation like this; however, prudent controls might at least suggest better initial evaluation of which styles and colors look the best on Lopez (and on Stone for that matter), in conjunction with investigation (i.e., key word and press searches, and perhaps asking the designer) to discover other people who have worn the dress.  With more prudent risk management, following ISO 31000 and/or COSO, Lopez and her people likely could have significantly reduced the risk that an occurrence of this type would occur.

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