In this issue: +++ Finance Excellence +++ Data Governance +++ Audit Tech +++ FCPA Troubles +++ Data Driven GRC +++
Don’t Build Your World Class Finance Function On Sand – Master Data Governance is a critical dependency for process simplification, standardisation, efficiency and compliance.
Master data is the foundation stone of ERP enabled business processes, and driver of transactional activity. Consequently, the need for standardisation and control is a key priority for finance, risk and IT leaders.
The past 10 years have seen a great focus on control and compliance of financial applications and processes and much has been achieved. Now companies have turned their attention to master data as the engine that can drive greater standardization and control.
Irrespective of the technology solutions in place, there are some essential overarching strategies and best practices for master data governance, which will be shared together with practical experiences at this event.
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Michael Cangemi is a well respected former Chief Audit Executive, CFO and regular commentator on issues related to financial control and assurance. His latest article is his second on this topic and delves into the findings of a 10 year survey of trends in the Internal Audit function, commissioned by the Institute of Internal Audit.
Interesting findings include an increase in continuous monitoring and data analytics, and that whilst Chief Audit Executives believe auditors greatest value is in assuring effectiveness of Internal Controls, CEO’s are looking for more! Is there a need for greater alignment?
Read the article here
Much of the use of data analytics for audit, risk and compliance starts on an ad-hoc basis, often as a one off analysis technique for a specific business process issue. Much has been made of the imperative for continuous monitoring and assurance across all risks, using advanced data analytics. The focus on data-driven decisions is a major force in the overall discipline of management and data-driven GRC is a concept that applies a similar focus to executives and stakeholders in the disciplines of governance, risk management and compliance.
Is data-driven GRC the future?
Read the full story here