THE FUTURE OF RISK.
The recent Ernst & Young study on the CFO perspective on Risk Management is an interesting read. Clearly somewhat influenced by the financial crisis, there are some broader issues raised in the report, not least the 73% of respondents that indicated they had more than seven risk functions in their business and 67% with overlapping coverage of functions. Managing risk more effectively requires greater insight, better processes and better monitoring of the key risk indicators. I was particularly interested in the questions to consider for balancing risk, cost and value on page 12. This can certainly be developed but is good start for constructive debate in many organisations.
SLASHING RISK EXPOSURE WITH AUTOMATED MONITORING.
Studies indicate that 77% of CFOs list risk management as a top initiative for 2010 yet only 52% feel they are doing an effective job at it.
Join us for this webcast and learn how automated monitoring of key risk indicators can vastly improve enterprise risk management programs. During this webcast, Approva will share case studies that illustrate how the ability to objectively monitor risk over time can enable companies to not only identify and assess risk but also reduce and mitigate it. Webcast attendees will see real life examples of how companies are using continuous monitoring systems to support a risk intelligent organization.
11th GLOBAL FRAUD SURVEY– Driving ethnical growth – new markets, new challenges
According to this Ernst&Young report, companies having managed through the financial crisis of the last two years, are now beginning to focus on growth.
Achieving growth often means planning expansion into new international markets or looking again at potential acquisition targets. Both of these may mean doing business in new geographies, some of which may bring particular fraud, bribery and corruption risks. Establishing a robust compliance environment to mitigate these risks requires real investment in leadership time, people, technology and training. Demonstrating that all of this effort is making a difference that the firm itself is committed to ethical growth is a critical business imperative.
FIVE WAYS MONITORING IS SUPPORTING RISK-MANAGEMENT PROGRAMS- What percent of your key risks do you monitor on a daily basis?
Download a pre-publication copy of this article to be published in the June edition of Compliance Week! Currently available only via this promotion, this article, “Five Ways Continuous Controls Monitoring Is Supporting Risk Management Programs,” includes an overview of how companies are embedding risk management in their operational activities.
DEPICTING THE UK’S STAFF FRAUD LANDSCAPE
CIFAS - the UK's Fraud Prevention Service, have releases Staff Fraudscape: a 28-page report that lays bare the frauds recorded by the Members of the CIFAS Staff Fraud Database during 2009. Launched in 2006, the CIFAS Staff Fraud Database is a way for organisations to share information on proven cases of staff fraud in order to prevent further fraud. Staff Fraudscape is a first of its kind: examining and revealing the realities of staff fraud in the UK today. Whilst the sample size in the database is quite small, the fraud characteristics reported are helpful to anyone developing an Anti-Fraud or Fraud Detection programme, whether in the UK or elsewhere.
BUSINESS FINANCE WEBCAST, TRANSFORMATIONAL GRC - An Exclusive Editorial Webcast Hosted by Business Finance and Accenture.
Register for this webcast to hear the latest approaches in risk based, top down strategies for Governance Risk and Compliance (GRC). Registrants of this webcast will receive an in-depth 2010 Study of GRC Best Practices.