Data classification is one of the most crucial elements of an effective information governance process—yet one that many companies fail to implement well. In its simplest terms, data classification is the process of categorizing data based on its level of sensitivity. When done properly, the classification of data helps a company determine the most appropriate […]
Risk Management
Posted inInternal Controls
The art of managing policy exception requests
Exception requests are often a thorn in the side of policy managers, and yet they are unavoidable for most.
Posted inRegulatory Enforcement
Regulatory Risk Trumps Others in Recent Study
Even more frightening than a persistently uncertain economic outlook, board members and C-suite executives say regulatory issues present the most serious risk their companies face in 2013. A recent survey by Protiviti and North Carolina State University of more than 200 directors and executives found regulatory changes and increased regulatory scrutiny on product and service […]
Posted inRisk Management
Info Governance: Crafting an Effective Data Security Policy
How concerned are companies about data breaches? In a recent survey, executives said they worried more about leaks of customer or employee data than natural disasters or investigations by the Securities and Exchange Commission. The survey, conducted last year by Chubb found that corporate executives rank “an electronic security breach of customer or employee data” […]
Posted inBoards & Shareholders
Deluge of Paperwork Blamed for Board-Based Security Risks
Buried in paperwork and burdened by regulations and increasing responsibilities. That’s the description Thomson Reuters’ annual board governance survey attaches to boards, and a big part of the reason nearly one-fourth of them are finding it difficult to adequately set “appropriate risk management cultures” within their organizations, even though regulators are demanding it. How boards […]
Posted inAccounting & Auditing
Audit Committees Could Do More to Understand Estimates
One-third of the 1,800 audit committee members around the world who participated in a KPMG survey said they could do more to understand the key assumptions that lie beneath management’s accounting judgments and estimates. In fact, less than half of those surveyed said they are satisfied that audit committees devote adequate agenda time to discussing […]
Posted inAnti-Bribery
Top 10 Global Compliance Trends to Watch in 2013
With the Dodd-Frank Act rulemaking nearly complete, 2013 might be a slightly quieter year for regulatory change in the United States. Not so for Europe and other global regions. Global regulators, accounting standard setters, and foreign enforcement agencies have a full pipeline of new initiatives, many of which will affect U.S. businesses. Here are 10 […]
Posted inRisk Management
Battling Escalating Risks With Emerging Technology
Emerging risks are colliding with emerging technology. Adapting to the increasing speed and complexity of risk was a common theme throughout the Compliance Week West conference earlier this month in Palo Alto, Calif. While evolving technology was touted as part of the solution, it was also discussed as having the potential to create new problems. […]
Posted inAccounting & Auditing
Internal Audit Departments Preparing for Rapid Change in 2013
Chief audit executives are developing their 2013 audit strategy, and the plans are shaping up to look drastically different than they did in 2012, or at least they should, say audit advisers. With budgets and hiring increasing for many internal audit shops, CAEs are generally expecting to have more resources at their disposal in 2013, […]
Posted inInternal Controls
Disclosure Questions Arise After a Cyber-Attack
When hit with a cyber-attack, many companies are choosing to remain as shadowy as the clandestine hackers that strike them. More than a year has passed since the Securities and Exchange Commission issued guidance suggesting that publicly traded companies should disclose cyber-security risks and attacks that result in material losses. Yet, many companies remain tight-lipped, […]
