KnowledgeLeader Blog

Raising the Bar: Auditing Your Enterprise Risk Management Program

Posted by Sharise Cruz on Wed, Oct 23, 2013 @ 11:36 AM
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Topics: enterprise risk management, Hot Issues, internal audit, COSO, risk assessment, Dan Swanson, audit committee & board, governance risk & compliance

AML Transaction Monitoring Governance: Challenges and Opportunities

Posted by Sharise Cruz on Wed, Oct 16, 2013 @ 03:54 PM

Expectations for transaction monitoring (TM) governance are quickly evolving due to the complexity of detection systems, the demand for additional operational oversight, increased regulatory scrutiny, and the need for an adequate control framework to guarantee proper risk management.

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Topics: Protiviti, enterprise risk management, laws & regulations, fraud, Foreign Corrupt Practices Act, compliance, financial services industry

Applying the Five Lines of Defense in Managing Risk

Posted by Sharise Cruz on Wed, Sep 25, 2013 @ 10:04 AM

Many lessons were learned from the financial crisis. For example, if a chief executive ignores the warning signs posed by the risk management function, resists contrarian information suggesting the corporate strategy is either not working or losing relevance, or fails to consider critical risks when evaluating whether to enter a new market or consummate a complex acquisition, the shareholders and other constituents can end up paying a high price.

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Topics: Protiviti, enterprise risk management, internal audit, audit committee & board, strategic risk, The Bulletin

Risk Management Beyond Borders: Protiviti's Tips for Country Risk

Posted by Sharise Cruz on Wed, Aug 14, 2013 @ 11:10 AM

Country risk comprises the various risks of investing in a foreign country that can lead to either investment impairments or reductions in returns on investment (ROI). Investment impairments may arise from confiscatory actions by a sovereign (e.g., nationalization of the business or expropriation of assets). ROI reductions may arise from discriminatory actions by a sovereign directed to the company, a targeted industry (say, energy or banking) or companies from certain countries (e.g., additional taxation, price or production controls, exchange controls, currency manipulation, expansion controls, performance requirements and other regulations). Both may arise from destructive or disruptive acts by others (e.g., violence, terrorism, war, strikes, infrastructure deficiencies, kidnappings or physical phenomena). The primary objective of managing country risk is to protect company investments in foreign markets and sustain acceptable investment returns.

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Topics: Protiviti, enterprise risk management, risk assessment, Cross-border & Non-US issues, Board Perspectives, country risk, investments and foreign exchange, asset management

Internal Audit Ratchets up for a Demanding Future

Posted by Aspen Plummer on Mon, Jun 03, 2013 @ 02:13 PM
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Topics: Protiviti, enterprise risk management, Hot Issues, internal audit, risk, organizational risk, chief audit executives, organizationl risk

Updated COSO Internal Control Framework: The Bulletin, Volume 5, Issue 3

Posted by Aspen Plummer on Tue, May 28, 2013 @ 01:12 PM
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Topics: Protiviti, enterprise risk management, leadership, COSO Framework, COSO, internal controls

IPO Readiness: Protiviti's Guide and Frequently Asked Questions

Posted by Sharise Cruz on Mon, Mar 25, 2013 @ 09:43 AM
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Topics: Protiviti, enterprise risk management, Sarbanes-Oxley, business planning, resources, laws & regulations, corporate governance, information technology risk, initial public offering

Risk Management: Integrating Risk with Business Planning

Posted by Sharise Cruz on Mon, Mar 11, 2013 @ 10:25 AM

While strategy-setting defines an enterprise’s overall strategic direction, differentiating capabilities and required infrastructure, a business plan lays out how an organization intends to execute a strategy during an annual period or, if longer, the operating cycle.

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Topics: enterprise risk management, business planning, performance management, audit team, risk

INFOGRAPHIC - Executive Plans to Add Risk Management Resources

Posted by Dave Goff on Tue, Feb 26, 2013 @ 10:46 AM

The global business environment continues to evolve rapidly, creating opportunities and challenges for all types of organizations in virtually every industry and country. These organizations are reminded, all too frequently, that they operate in a risky world.
























To provide perspectives about the nature of potential risks in 2013, Protiviti and North Carolina State University’s ERM Initiative partnered to survey more than 200 board members and C-suite executives to obtain their views about what risks they believe are likely to affect their organizations over the next 12 months. Among the key findings from our study:
  • Executives are significantly concerned about the magnitude and severity of risks that could affect the achievement of profitability or funding goals over the next year
  • Two risks stand out as being of the highest concern:
Risks related to profitability constraints due to overall economic conditions that will limit growth opportunities
Concerns about the potential for regulatory changes and heightened regulatory scrutiny that will affect how products and services will be produced and delivered.
The report also discusses the surveyed organizations’ plans to improve their capabilities for managing these risks.

Download The Entire Report Here 

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Topics: enterprise risk management, survey reports, risk, risk oversight, risk management goals, risk management objectives

Protiviti publishes new “Guide to the Sarbanes-Oxley Act: IT Risks and Controls”

Posted by Dave Goff on Wed, Jan 02, 2013 @ 04:47 AM

Protiviti has published the second edition of its popular booklet, Guide to the Sarbanes-Oxley Act: IT Risks and Controls.

This publication is the definitive resource guide on IT risks and control issues related to compliance with SOX Section 404. This is a 45 page booklet covering an array of SOX-related topics in a questions and answers format.

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Topics: enterprise risk management, Sarbanes-Oxley, audit team, IT audit, COSO Framework, COSO, SOX, Data Integrity Risk, IT strategy, methodology, Application-Level Controls

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