While responsibility for raising security awareness lies with Information Risk organisations, most continue to work in the dark while designing their efforts, lacking knowledge of what works and what does not. Effecting behavior change in a global end-user community requires skills typically found in marketers and psychologists, traits that go far beyond the scope of [...]
Read more(Corporate Compliance Insights, 18 April 2012) In Brief: You should be wary of threats in the form of human capital, technological expansion, and joint ventures when expanding operations abroad, says this article. Our View: Although companies are well aware of the traditional set of risks brought on by operating in foreign markets, in the race [...]
Read more(CFO.com, 19 April 2012) In Brief: Fraud can cost companies up to 5% of their revenue each year, yet many executives are still “prone to underestimating the amount of fraud that exists within their company,” says the writer. Our View: Eighty-nine percent of audit departments report fraud risk management as a key priority for their [...]
Read more(Accountancy Age, 13 April 2012) In Brief: As companies are focusing more on risk management, the relationship between operational leaders and Internal Audit is improving, according to a UK-based recruiting firm. Our View: As Internal Audit is being asked to provide assurance over business risks and strategic priorities, audit staff must gain a better understanding [...]
Read more(Compliance Week, 5 April 2012) In Brief: Financial reporting and related internal control risk should be the primary area of focus for Audit Committees this year, says a new report. Other critical issues on the “to do’s” list include corporate strategy, the regulatory environment, and crisis readiness. Our View: Leading audit departments solicit feedback from [...]
Read more(Search Engine Watch, 13 April 2012) In Brief: There will be 1.43 billion social network users across the globe this year, up 19.2% from 2011, says one digital intelligence firm. A separate study expects 96% of companies to increase their social media investments this year. Our View: Social media entered our Annual Hot Spots: Overall [...]
Read more(Treasury and Risk, 23 March 2012) In Brief: Internal audit functions should take a more strategic position to help manage the increasing array of risks, according to a study of the profession. Our View: Finite department resources often fail to meet expanding stakeholder expectations for broader risk coverage, leaving audit directors tasked with the difficult [...]
Read moreChief Auditors (CAEs) are struggling with the effectiveness of their audit planning process; we are frequently asked about the best way to carry out a risk assessment, to prepare an audit plan and to agree the plan with your Audit Committee. Although CAEs spend a lot of time doing their annual risk assessment and their [...]
Read more(Compliance Week, 27 March 2012) In Brief: Two recent surveys of Internal Auditor priorities suggest a rise in concerns over cloud computing and cyber threats as well as data privacy and regulatory issues. Our View: Heads of Audit must make smart decisions on what—and perhaps more importantly, what not—to audit. Unfortunately, these calculations have gotten [...]
Read more(EBN Online, 16 March 2012) In Brief: Your company must audit suppliers, who have their own supply chains outside your purview. A survey will also help relay your company’s quality standards and help your contractor meet these expectations. Our View: Increasing reliance on third parties introduces a greater likelihood of compliance problems, from corruption and [...]
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