Conflicts of interest have become a big risk area for companies of all sizes, in all industries and any country. Just try spending an hour on the Web, and you’ll find several examples of COI causing financial losses for companies or their customers, questionable outcomes in scientific and medical research, and facilitation of fraud, bribery, and corruption. So why aren’t many companies taking COI seriously? The latest GRC Illustrated edition from CW and OCEG offers some theories.
Carole Switzer
Posted inUncategorized
Let’s Change the Way We Talk About Controls
This month’s edition of the GRC Illustrated Series from Compliance Week and OCEG discusses how to address threats to the company while recognizing opportunities. Inside, learn about the integrated approach to an internal control environment that uses proactive, detective, and responsive management actions and controls to achieve principled performance.
Posted inUncategorized
Aligning the Organization for Principled Performance
Management must align objectives to the organizations’s business environment and internal culture, but what does alignment really mean? In this latest installment of the GRC Illustrated Series, brought to you by Compliance Week and OCEG, experts discuss alignment in the context of GRC and keeping the company on the right path toward principled performance.
Posted inUncategorized
Learning Lessons for Principled Performance
Image: In the latest installment of the GRC Illustrated series, OCEG outlines the “learn” component in its GRC Capability Model, where companies learn how to observe change, analyze, update strategies, and respond appropriately to any curveballs thrown their way to achieve principled performance.
Posted inUncategorized
Running in Place or Winning the New Race?
Image: Our GRC Illustrated series returns this week, looking at how compliance programs can keep pace with new ways of communicating within business and with the new employees who use them. That will mean addressing multiple audiences through multiple channels, and it will pose new challenges for policy management, training, and more. The latest chapter is inside.
Posted inUncategorized
You Are the Weakest Link
We talk a lot today about the growing complexity of supply chains in the global economy. With an almost uncountable number of parties (or links if you will) in many undefined and ill-managed supply chain relationships, the chance of significant or fatal weakness seems immeasurable. The complexity presented by the number, nature, and structure of […]
Posted inAnti-Bribery
Breaking Up Is Hard to Do
Paul Anka crooned, “Breaking up is hard to do” as he begged his love not to leave him in one of his most famous songs, but alas, we all know that relationships often come to an end. By contrast, management guru Peter Drucker cautioned “begin with the end in mind,” and even though it isn’t […]
Posted inTechnology
A Strategic Approach to Conduct Risk
As we all know, ill-advised risk taking in the financial sector led the industry to the brink of collapse in recent years. Not only that, but sales schemes driven by inappropriate incentive plans and outlandish short-term objectives caused many consumers to suffer severe financial consequences and lose trust in the entire financial marketplace. It seemed […]
Posted inAnti-Bribery
True Detective—Lessons in Removing the Mask
A couple of weeks ago, I spent seven hours in a marathon session watching HBO’s new series, True Detective, in anticipation of the final installment. And, I must confess, this was the third time I viewed the episodes, trying to piece together more information that might let me see the true identity of the leader […]
Posted inInternal Controls
Business Agility Across the Extended Enterprise
No company is an island. Organizations are a complex and diverse system of processes and business relationships. Risk and compliance challenges do not stop at traditional organizational boundaries. Organizations struggle to identify, manage, and govern extended business relationships. The challenge is: “Can you attest that risk and compliance are managed across extended business relationships?” An […]