After four years of focusing on Sarbanes-Oxley compliance, internal auditors are finally starting to feel like they can give their attention to other matters, according to a recent study. The study, a survey done by the consulting firm Protiviti, found that 40 percent of internal audit departments have been able to decrease the amount of […]
Dunn Christine
Posted inFrom the Archive
S&P Starts Including ERM in Credit Ratings
Standard & Poor’s is giving companies a new financial incentive to take enterprise risk management more seriously: It will affect their credit ratings. S&P has been working since last fall to incorporate ERM into how it decides a company’s credit ratings. The agency finally released a report late last month saying it will now treat […]
Posted inFrom the Archive
Duke Energy Modernizes Its Compliance Program
In the latest of our conversations with players in the compliance and governance realm, we talk to Julia Janson, SVP of ethics and compliance and corporate secretary of Duke Energy. An index of previous conversations is available here. DETAILS Janson Julia Janson is senior vice president of ethics and compliance, and corporate secretary for Duke […]
Posted inInternal Controls
New IIA Guidance Incorporates AS5, SEC Guidelines
The Institute of Internal Auditors has finally updated its internal control guidance to incorporate the new Auditing Standard No. 5 and the management guidelines published by the Securities and Exchange Commission last year. Marks The report entitled, “Sarbanes-Oxley Section 404: A Guide for Management by Internal Controls Practitioners,” builds on the original one published in […]
Posted inInternal Controls
Leveraging AS5, SOX Testing at Silicon Graphics
In the latest of our conversations with compliance and governance executives, we catch up with Dean Plank, director of internal audit at Silicon Graphics, Inc. Readers can also visit our archive of Q&A interviews. DETAILS Plank Dean Plank is the director of internal audit for Silicon Graphics, Inc. (SGI) and holds a Masters International Management […]
Posted inAccounting & Auditing
Managing Risks Tied to the Credit Crisis
Companies caught up in the fallout from the sub-prime mortgage crisis are scrambling these days to cope with two principal risks: a liquidity crunch—which can range from a higher cost of capital to a lockout from capital markets entirely—and increased exposure to lawsuits. The credit crunch is already forcing companies to be more conservative about […]
Posted inFrom the Archive
Banks Bring Basel II to Risk Management
As investors around the world cope with the fallout of the sub-prime mortgage crisis in the United States, financial institutions are getting a stern regulatory reminder of the importance of monitoring operational and credit risk, via the implementation of Basel II. Named after the Swiss city where it was hatched, Basel II spells out three […]
Posted inInternal Controls
Talking ERM, AS5, and More at Cognizant
In the latest of our conversations with compliance and governance executives, we catch up with Ross Williams, chief risk and compliance officer at Cognizant Technology Solutions. Readers can also visit our archive of Q&A interviews. DETAILS Williams Ross Williams is vice president and chief risk and compliance officer of Cognizant Technology Solutions. Williams has more […]
Posted inUncategorized
Tough New Ethics Rule for Govt. Contractors
The new federal contracting rule that requires all companies doing business with the federal government to have an effective ethics and compliance program in place hasn’t even started yet, and already there is clamoring to change it. Federal Acquisition Rule Subpart 3.10, which will come into effect on Dec. 24, compels companies with government contracts […]
Posted inEthics & Culture
Different Approaches to Ethics in U.S., EU, Japan, China
When it comes to corporate ethics, technology may again be playing an important role in leveling the playing field, and helping to create more consistent policies and standards in companies across the globe. “We live in an age of information, where there are no secrets, and no places to hide,” says Keith Darcy, chief operating […]