Developing a transparent anti-fraud culture and conducting periodic risk assessments are important steps for organizations in deterring fraud.
Risk management and internal control
The proposal would clarify concepts introduced in 2004.
Reducing negative surprises and improving resource allocation are among the benefits of integrated enterprise risk management, according to the proposed framework update by COSO.
Sell-side due diligence can help identify potential problems with finances, systems, and culture when a company is considering whether to merge, acquire, or be acquired.
The proposal would update the definition of ERM and emphasize the link between risk and value.
Risk managers are increasingly focusing on third-party risks, hoping to control new threats to performance and reputation. But trust still factors heavily.
About half of public companies have a complete enterprise risk management process, according to a new survey by the American Institute of CPAs and North Carolina State University.
Although economic uncertainty and cyberthreats are big concerns for executives and board members, a global survey shows that a different risk remains the top worry.
Compliance requirements related to the Patient Protection and Affordable Care Act, P.L. 111-148, are just one example of the regulatory changes keeping finance departments busy these days.
COSO white paper's 'three lines of defense' can establish risk management duties.
Layers of defense should exist in an organization’s systems, with the most sensitive information protected by the most layers.
Internal auditors can play a pivotal role in managing technology risks ranging from cybersecurity to social media. The risks are ranked in a new report that shows how internal audit can help manage them.
Audits of the complex area of internal control over financial reporting (ICFR) may be improving, Jeanette Franzel, a member of the Public Company Accounting Oversight Board, said in a speech.
A “three lines of defense” model can help organizations establish responsibility for duties under the COSO framework.
Internal auditors may need to change their approach to audit planning to keep up with unexpected and fast-paced changes in risks, a new global survey shows.
Find out how internal auditors can maintain their objectivity in the face of pressure to omit or modify an important audit finding.
Olivia Kirtley, CPA, CGMA, an accomplished corporate director with almost 20 years of experience serving on boards, talks about strategic, risk, and compliance issues that keep board members up at night.
Mark Pearson, who works in supply chain forensics for Deloitte, explains how companies can probe one of the top risks—third-party expense categories—and avoid overpaying.
As businesses transform in response to market shifts, internal audit functions may need to provide more value-added services and proactive advice to management in the coming years.
Businesses are placing increasing emphasis on ethics and compliance, and the area is set to gain further importance in the near future.