COSO Expects First-Quarter Release of ERM Update Draft
Image: COSO expects to publish a draft of its Enterprise Risk Management Integrated Framework in the first quarter of 2016. First released more than a decade ago, COSO opted to make updates in light of modern business conventions and practices. COSO Chairman Bob Hirth says, “It will be ...
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Parsing the Difference Between GRC & ERM
Image: Lots of executives know the difference between compliance and risk management conceptually. But the difference between “governance, risk, and compliance” and “enterprise risk management”—not so much. This week, we pick apart both acronyms. “Compliance is typically what 90 percent of GRC software does,” says Steven Minsky, CEO of software ...
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PremiumU.K. financial regulator looks to streamline audit enforcement procedures
Auditors are supposed to keep businesses honest, but how much regulation is the optimum for the auditors – and how onerous and punitive should the enforcement regime be? A new consultation by the U.K. regulator, the Financial Reporting Council, opened on Oct. 1 and has put the vexed question of ...
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ArticlePCAOB’s Christina Ho: How emerging technologies could improve audit quality
Emerging technologies, like artificial intelligence (AI) and advanced data analytics, can improve audit quality in significant ways. As the regulatory overseer of public-company audits, the Public Company Accounting Oversight Board (PCAOB) has a critical role to play by ensuring that its audit standards evolve as the audit profession evolves.