The biggest improvement in the IIA’s new “Three Lines Model” of risk management is it allows for greater flexibility between “lines” and is less likely to be interpreted so literally.
Surveys & Benchmarking
Posted inBoards & Shareholders
Shared elements of best-in-class risk and compliance programs
A revamped NAVEX Global report reinforces a long-held belief in the compliance industry that those companies that trust employees to behave ethically continuously work to improve culture.
Posted inInternal Controls, Risk Management, Surveys & Benchmarking
IIA’s ‘Three Lines of Defense’ updated to stress collaboration
The Institute of Internal Auditors’ updated “Three Lines Model” ditches the focus on defense of its predecessor to encourage more effective collaboration between key players within an organization.
Posted inRisk Management
Study: U.S. largest target for ‘significant’ cyber-attacks
The United States has been on the receiving end of more significant cyber-attacks over the last 14 years than triple any other country, according to new research.
Posted inEthics & Culture
From financial crisis to coronavirus: Shifting compliance trends in financial services
Keeping up with regulatory change; budget and resource allocation; and data protection issues were cited as the top three compliance challenges in the financial services industry, according to a recent study.
Posted inEthics & Culture
LRN survey: Values, not policies, drive ethical behavior
Establishing a culture based on values and transparency is more effective at preventing misconduct than a robust set of rules, according to an LRN survey.
Posted inRisk Management
Report: Average data breach costs public companies $116m
An Audit Analytics report on cyber-security breaches at public companies found the sensitivity of customer information stolen—along with length of time it took companies to report breaches—greatly affected the financial damage the breaches caused.
Posted inEthics & Culture
Driving innovation in supply-chain practices post-pandemic
A number of forward-thinking companies are using the coronavirus pandemic as an opportunity to drive promising innovations in their global supply chains.
Posted inInternal Controls
M&A due diligence landscape forever altered by coronavirus pandemic
The coronavirus pandemic has affected both the risk landscape and the diligence protocols for merger and acquisition transactions at every stage of the game. But while deal terms may be negotiable, what should be non-negotiable is the compliance function’s role in M&A transactions.
Posted inEthics & Culture
Best practices for maintaining a healthy incident-response program
NAVEX Global’s annual “Risk & Compliance Hotline Benchmark Report” provides chief ethics and compliance officers with best practices on how the performance of their hotline and incident-management programs stack up against their peers.