Organizations that have a fairly firm grasp of risk management tend to do fairly well in what James Bone calls the first and second dimensions of risk. It's common, however, for firms to fall short in the third dimension. So what is this third dimension of risk, and how can risk professionals guide their firms into more ...
Life sciences organizations face significant challenges with regard to risk management. One solution to minimizing risk may be better “big data” management, including forensic data analytics to mine mountains of data for indicators of fraud or corruption. Competitively speaking, there is immense power in big data...though that must be done with an eye on risk.
Many organizations overlook their ERP system as a “data-driven” line of defense. It is a transaction-based system that, if properly managed, can assist in preventing corporate failures or capturing illegal activities that can cripple an organization. It’s designed to protect an organization, small or large, private or public, from illegal activity. In the wake of […]
In recent years, challenges concerning automation, technology risk and operational improvements were often put on the backburner as organizations responded to an all-hands-on-deck need to address Sarbanes-Oxley (SOX) compliance requirements. Today, chief audit executives (CAEs), management committees and audit committees are taking action to allocate resources more evenly between compliance audits and operational audits. According […]
GRC assessment and execution is a critical mandate for international businesses – even in a tough economy.
John Verver, Vice President of Services and Product Strategy for ACL Services, discusses the important of effective data analytics, and how it can provide a path to an integrated approach between audit and GRC.