Compliance Insights Latest: The Future of Financial Regulation Still Unclear; Meanwhile, New Rules March On
The recent election results weigh heavily on the minds of financial services professionals. All manner of questions have been raised regarding potential related regulatory impacts. Currently, there is ambiguity and speculation as to what changes are in store, when they will come, and the extent to which they will occur. What is certain is that […]
How Expensive Are Cybersecurity Attacks and Data Breaches?
A Journal of Cybersecurity article earlier this year concluded that public concerns regarding the increasing rates of breaches and legal actions may be excessive compared to the relatively modest financial impact to firms that suffer these events. Based on a sample of more than 12,000 cyber events that include data breaches, security incidents, privacy violations and […]
COSO Guide Seeks to Elevate and Evolve Fraud Risk Management Practices
For many organizations, fraud risk management consists of checking boxes and thinking positive thoughts: “We hire good people.” “We have a code of conduct.” “We comply with Sarbanes-Oxley (SOX).” “Our hotline does not ring (for serious things).” “Fraud simply doesn’t happen here.” Of course, as forensic professionals, we know that this is not enough. So […]
New Evaluation Tool Enables Boards to Assess and Improve Their Risk Oversight
Prudent risk-taking is essential to the success of organizations seeking market opportunities and executing aggressive growth strategies. Boards of directors have a growing role in overseeing risk in the companies they govern. In fact, risk oversight is an integral part of a board’s responsibility to ensure the company’s risk profile is aligned with its strategy. Yet […]
Navigating Risk and Complexity by Integrating Contract and Supplier Management
Most organizations spend between 30 and 70 percent of their revenues procuring third-party goods and services. This level of expenditure can present significant opportunities to drive operational performance, value and innovation if managed effectively – or it can pose a significant risk if left unmanaged. To realize the former, contracts that govern these transactions and the management of […]
Digital Transformation, Data Governance, and Internal Audit
Digital advances, such as big data analytics, mobility and smart connected devices are radically changing not just business processes, but entire operations. Companies across industries are racing to migrate analog approaches to customer interactions, products, services and operating models to an automated, always-on, real-time and information-rich marketplace. For internal audit, this means that IT risk […]
