All risk management articles – Page 5
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Article
7 reasons to study COSO’s new Fraud Risk Management Guide
COSO’s new fraud guide is not mandatory but, says Tammy Whitehouse, public companies would be wise to study and consider it anyway because it could eventually become a requirement.
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Blog
Western World Insurance Group appoints director of risk management
Western World Insurance Group, a wholly-owned subsidiary of Validus Holdings, announced the appointment of Arya Yarpezeshkan as senior vice president, director of risk management, effective as of Oct. 3.
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Article
The vital link between compliance and procurement
For many organizations, compliance and procurement only work at all if they work together. But how they work together is something that is unique to every organization. Jaclyn Jaeger explores.
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BlogCAQ: Audit’s role in cyber-security exams
Public company auditors are suggesting that companies voluntarily submit to an independent cyber-security examination separate from the existing financial statement audit. Tammy Whitehouse explores a new process for examining and reporting on a company’s cyber-security risk management.
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ArticleBrexit uncertainty forcing review of supply chains
Jaclyn Jaeger looks at the results of a recent survey from the Institute of Supply Chain Management to answer whether supply chain executives fear Brexit will have a negative financial effect on their companies.
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Article
Post-Brexit, is the sky falling in the U.K., or is it business as usual?
A mix of positive and negative indicators signal an uncertain economic impact for the U.K. from its June 23 Brexit vote, but the longer-term view still trends negative. Paul Hodgson reports.
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Article
Free trade agreements create compliance headaches
Free trade agreements potentially offer significant cost savings to companies, but managed ineffectively they also pose huge compliance risk. Jaclyn Jaeger reports.
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Blog
Iceland and Ireland both jailed their bankers. Why aren’t others learning by example?
Ireland just sentenced three senior bankers to prison for their role in the 2008-2009 financial crisis. Given how common misbehavior was among senior bankers all over the world in the days before the crisis, why haven’t more been sentenced to jail? Bill Coffin offers an explanation.
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ArticleChinese companies place dead last in corporate transparency report
A recent report by corruption watchdog Transparency International on the corporate disclosure practices of emerging-market multinationals revealed significant deficiencies in the areas of anti-corruption practices, company structures, and country-by-country reporting. Indian companies scored highest overall, while many Chinese companies failed miserably. Jaclyn Jaeger reports.
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Blog
For ENI, business risk, geography, and political risk all come together
How does a company assess its risks and, more importantly, how does it manage them? That’s the question FCPA blogger Tom Fox hoped to answer recently when he explored the case of Italian energy company ENI’s focus on doing business in Africa—known for being politically risky—which put some investors ill ...
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Article
Latest conflict minerals filings show improved due diligence
Regardless of legal disputes and other challenges, companies still had a deadline last month for filing conflict minerals disclosures with the SEC. This year Joe Mont says, many companies appeared to be taking their reporting much more seriously with some already getting a jumpstart on 2017.
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Blog
Theranos and compliance
One of the most compelling business stories over the past 18 months or so has been that of the Theranos, the developer of a perhaps revolutionary blood testing system, which allegedly allow testing of blood with such a small amount a person would only need their finger pricked. No longer ...
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Article
Q&A with Randy Stephens of NAVEX Global: Why third-party due diligence still flummoxes so many companies
Image: Third-party risk continues to be a major concern for executives, and there is no shortage of high-profile compliance failures in recent years. And yet, a recent survey by NAVEX Global of more than 300 ethics and compliance professionals found that 32 percent of their companies don’t evaluate third parties ...
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ArticleMitigating third-party risks
Most companies by now understand the escalating risks that third parties pose to their business and are ramping up their third-party risk management efforts accordingly. Even still, many struggle with how to achieve full transparency into the breadth and depth of their third parties, exposing themselves to significant legal and ...
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Blog
Treasury Official to Banks: Manage Risk, Don’t Avoid It
During remarks this week at the American Bankers Association and the American Bar Association Money Laundering Enforcement conference, Treasury Acting Under Secretary Adam Szubin provided some clarity on de-risking and anti-money laundering controls. “We believe that most risks can and should be managed, not simply avoided altogether,” he said. More ...
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Article
How Mature Is Your Information Governance Function?
Image: Most companies still have much work to do to turn their information governance into “mature” programs, where they can extract insight from their troves of data while minimizing security and privacy risks, according to a new report from the Information Governance Initiative. “To date, very few organizations have taken ...
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Article
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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Blog
How Audit Committees Really Think About Risk
Image: Enterprise risk management is a hot subject in boardrooms across America these days, with big consequence for corporate compliance and audit professionals. Still, do audit committees have a clear sense of how they want to approach risk and risk management? Compliance Week editor Matt Kelly decided to look at ...
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Article
Supply Chain Risk Continues to Challenge Companies
Rare is the business these days that can afford to be cavalier about the regulatory scrutiny on its supply chain. So why do so many still struggle so much to gain visibility and control over vendors and suppliers? A lack of sophistication in monitoring third parties (never mind fourth parties ...
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Article
Shop Talk: Moving From Compliance to ERM
Moving from silos of compliance to enterprise risk management is a complex task under the best of circumstances. Where should ERM sit within the company? How do you win support from business units? How do you get the data you need to make informed decisions about risk? At Compliance ...