Audit Board

JANUARY 12, 2023

Cybersecurity risk assessments are a means for organizations to assess risks to their information assets and are a core requirement of most cybersecurity frameworks. It includes: A process flow for building and manage a cybersecurity risk management program. . What Are the Principles of Cybersecurity Risk Management?

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Compliance Start-ups Asset-based Approach Specific Risk 97

Audit Board

JULY 13, 2023

We readily grasp the big picture and identify potential improvements to organisational governance, risk management, and internal control. We know how to conduct a value-for-money audit, but use only rudimentary measures of our own economy, efficiency, and effectiveness. Internal audit has its own value chain.

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Start-ups Technology 52

Audit Board

OCTOBER 16, 2022

Increasing risk velocity and volatility converged in 2022 to create unprecedented risk bedlam. How can you use that knowledge to help your organization get ahead of risk and set the right priorities for next year? Risk bedlam is no time for us to be timid. But this is no time to dwell on what happened this past year.

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Internal Audit 360

SEPTEMBER 2, 2021

GUEST BLOG POST. T he Institute of Internal Auditors regularly publishes useful Global Technology Audit Guides (GTAGs), available to members on their website under Standards and Guidance. As part of that effort, the IIA recently published a second edition of its guide, Auditing Identity and Access Management.

Technology 52

Technology 52

Audit Board

NOVEMBER 1, 2023

72% of risk executives say that implementing digital transformation initiatives is critical to growth. Many audit, risk, and compliance folks don’t have software-buying experience. I’ve identified 5 steps to consider to position yourself for success at your organization to get what you need. How long would it take?

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Technology Start-ups Compliance 52

Audit Board

MAY 2, 2023

Internal audit, as an objective third line of assurance, plays an integral role by providing assurance surrounding the accuracy and reliability of a company’s ESG reporting. By conducting thorough reviews and assessments, internal auditors can identify areas of risk and provide recommendations to strengthen ESG reporting.

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Audit Board

SEPTEMBER 6, 2023

When reporting on your InfoSec compliance program to the Board, the main goal is to ensure board members are aware of high-risk cybersecurity items and InfoSec has the appropriate budget to address them. To accomplish this, InfoSec should prepare a strong narrative, and any request should be backed by compelling evidence.

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Compliance Technology Marketability 52

Audit Board

MARCH 22, 2023

I hope that sharing what we have learnt at SWAP will inspire you to adopt some of the approaches included in this article. Creating an annual audit plan. The combined effort of developing and gaining approval for a 12-month plan in a world of dynamic risks is frankly misdirected. A 2022 HSE report found 30.8

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RNC

FEBRUARY 16, 2024

It serves as a foundation for strategic decision-making, risk management, compliance, and overall financial planning for businesses relying on industrial assets. Risk Management: Valuation helps businesses identify potential financial and logistical risks related to their plant and machinery assets.

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Compliance Finance Marketability Appraisal 52

Audit Board

APRIL 27, 2023

The internal audit function is crucial to a company’s growth. Objectively evaluating risks, analyzing and assessing processes and systems for efficiencies, doing spot-checks for as-yet-unknown issues, and keeping departments aligned and meeting business objectives are all important ways that auditors can bring value.

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Compliance Start-ups Technology Finance 52

Value Scope

JULY 21, 2020

We know ESG is important and valuable, but it will be even more valuable when it is clearly quantified and valued using conventional and customary approaches. In 2018, the number was about $5 billion. Click to Download: ESG Valuation Considerations – Top Down or Bottom Up? Executive Summary.

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Intangible Assets Beta Alpha Unlevered Beta 130

Audit Board

AUGUST 15, 2022

Third-party risks change as the business changes. Security breaches, new contracts, and changes in internal risk ownership — to name a few examples — can all impact the performance of a third-party risk management program (TPRM). TPRM programs commonly employ a range of tactics for assessing third-party risks and controls.

Compliance 52

Compliance 52

Audit Board

AUGUST 10, 2023

ESG disclosures have taken the spotlight in recent years as part of a trend of increased scrutiny around risk, compliance, and cybersecurity. The SEC’s announcement suggested that these reporting processes take a risk management-based approach. What Are ESG Metrics?

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Compliance Start-ups Data Analysis Equity 52

Audit Board

JUNE 13, 2022

Integrated risk management (IRM) is a strategic and collaborative way for organizations to manage risk across their entire group. This strategy accepts risk as a part of doing business, and pulls it into a company’s culture so that the organization manages risk as a part of both daily operations and long-term strategy.

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Compliance Technology Start-ups Marketability 52

Audit Board

AUGUST 1, 2023

The SEC recently adopted their proposed rules, including those regarding Cybersecurity Risk Management on July 26, 2023. The stakes and expectations of an organization’s IT Risk Management capabilities have never been higher – and as we all know, the dollar impacts are real.

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Technology Start-ups Compliance Marketability 52

ThomsonReuters

AUGUST 24, 2021

Keep reading for 5 ways to calculate and communicate ROI in your business case for sales tax automation. For example, external audits are typically triggered by reporting errors, incorrect tax calculations, or anomalies – such as issued resale certificates or non-remission of use tax – that invite regulatory scrutiny.

Technology 52

Technology Compliance 52

Audit Board

SEPTEMBER 13, 2022

Organisations lose an average of 5% in revenue annually to fraud, a total approaching £200bn for the UK alone, not to mention the reputational and related impacts. Too often fraud fails to be seen as a key risk deserving of regular attention. . It’s not that fraud is ignored but the assumption is we have it covered.

Technology 52

Technology 52

Audit Board

DECEMBER 14, 2022

A readiness assessment helps compliance teams understand the areas of the business already operating as intended — as well as identify deficiencies to allow time for remediation ahead of a formal, third-party audit. . Common Reasons for Performing a Gap or Readiness Assessment. Customer/contractual commitments.

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Compliance Technology Marketability 52

Sun Acquisitions

FEBRUARY 3, 2023

An external audit is an excellent way to get people to trust that your financials are correct. Managed services contracts are a great example of recurring revenue and these revenues are much more valuable than project-based/one-and-done types of revenues. A first step may be cleaning up your financial records.

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Business Valuation Start-ups Marketability Equity 52

ThomsonReuters

NOVEMBER 4, 2020

DAC6 is the result of the OECD’s Base Erosion and Profit Shifting (BEPS) framework enacted in 2015. Managing the risk of DAC6 and similar regimes. Why technology is critical for DAC6 compliance. These days, the number one concern of corporate tax departments is clear: keeping up with changing regulations.

Technology 52

Technology Compliance Start-ups 52

Reynolds Holding

APRIL 10, 2023

Under the pressure of institutional investors, environmental groups, employees, consumers and other stakeholders, many companies have sought to demonstrate their bona fides when it comes to ESG through disclosure about their sustainability efforts, goals and achievements, whether in periodic reports or in separate sustainability reports.

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Compliance Going Concern Value Start-ups Finance 45

Audit Board

JUNE 14, 2023

With regulation on the horizon, internal audit, risk, and compliance professionals are well positioned to help their organizations get ahead. The fallout of neglecting environmental, social, and governance factors as a matter of strategy and risk management can be costly — both in financial and reputational ways.

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Compliance Start-ups Marketability Equity 52

ThomsonReuters

JUNE 15, 2021

Attorneys caution the rush to go public via a SPAC vehicle, termed “De-SPACing,” comes with substantial risk. “It Which basically means that before you do the transaction you have to have started the process that would enable you to do an audit of your internal controls for the year that you were in.”.

Risk-free Rate 64

Risk-free Rate Equity Start-ups Book Value 64

Audit Board

NOVEMBER 8, 2023

If your company accepts credit cards or debit cards as payment for goods or services, you need to be compliant with Payment Card Industry Data Security Standards (PCI DSS). Nilson reported that payment card fraud cost a collective $32 billion internationally in 2021. What Does it Mean to Be PCI Compliant?

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Compliance Start-ups Banking Technology 52

Audit Board

AUGUST 17, 2023

My organization, Northwest Natural , went through a major implementation not too long ago, and we had to decide how internal audit would be involved. At the time, we looked for resources to help guide us on how and when to conduct an audit, but ultimately we had to make decisions that worked for our company on our specific project.

Start-ups 52

Start-ups Technology Compliance 52

Audit Board

MAY 15, 2023

In today’s modern threat landscape, compliance risk, cybersecurity risk, fraud risk, and even climate change risk can have a significant impact on your company’s reputation and bottom line. While you’ll never be able to eliminate business risk entirely, prevention is the best insurance against loss.

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Start-ups Compliance Technology 98

Audit Board

AUGUST 29, 2023

This article originally appeared on the Chartered IIA Technical Blog. One of the great inhibitors of greater technology adoption among internal audit leaders is not knowing where to start. Now, in Part 2, we explore specific applications for internal auditing, from elementary to more advanced ones.

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Technology Start-ups Compliance Finance 52

Audit Board

MARCH 17, 2022

Three types of ESG internal controls, and five kinds of internal audits over sustainability. . Environmental is what most people think about when you mention sustainability, things like impact to climate, climate risk, carbon emissions, energy usage, waste and water management. Key considerations for implementing ESG technology.

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Start-ups Technology Accounting Firms Compliance 98

Audit Board

JULY 19, 2023

The single piece of advice I offer internal auditors more than any other is to “follow the risks.” If internal auditors follow the risks, they enjoy a much greater likelihood of allocating scarce internal audit resources where organizations are most vulnerable.

Start-ups 52

Start-ups Compliance 52

Audit Board

JUNE 8, 2023

Compliance audits are a broad topic that can affect many organizations across different parts of an organization. There can be different kinds of compliance audits being performed at any given point in time, and at first glance the world of compliance is full of opacity and acronyms. What Is a Compliance Audit?

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Compliance Start-ups Technology Accounting Firms 52

Audit Board

AUGUST 4, 2022

Environmental, social, and governance (ESG) risk is evolving rapidly and has skyrocketed to the top of executive and board agendas for the next decade. In early 2022, the SEC proposed a new rule that is meant to standardize climate risk disclosures reporting for public companies. billion tonnes, their highest level in history.

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Compliance Technology 52

ThomsonReuters

MARCH 28, 2023

Million __ 68% efficiency gains for the statutory reporting process, equivalent to US$437,000. .): $803,000 saved Improved on-time compliance rates by 5%, reduced penalties: $32,000 saved Total Savings: $1.44 Statutory reporting processes can be painstaking to carry out manually. Forrester maintained editorial control over the study.

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Compliance Net Present Value Finance Technology 59

Audit Board

APRIL 7, 2022

Using a SOX management solution to house your data in a single source of truth — ideally one that is cloud-based and purpose-built for streamlining SOX project management — can eliminate version control issues and automate the process of manually following up with control and process owners to complete outstanding tasks. .

Technology 98

Technology Compliance 98

Internal Audit 360

NOVEMBER 22, 2021

Yet these are the qualifications chief audit executives, senior managers, and board members cite most often as the key abilities they are looking for in good internal auditors. Now internal auditors must often conduct audits remotely , interviewing process owners and others through phone calls and video conferencing.

Technology 52

Technology Compliance 52

Audit Board

JUNE 1, 2023

As the internal audit leader at one of the top research universities in the United States, my organization is no different — our operations span many different industries: higher education, agriculture, veterinary research, medical research, utilities, real estate, food safety, healthcare, entertainment/performing arts, and venue operations.

Compliance 52

Compliance Start-ups Technology 52

Audit Board

SEPTEMBER 16, 2022

Third-party risk management (TPRM) has become a major concern for business leaders. There is an increased reliance on products and services offered by third-party vendors, which in turn expands the surface for security incidents, data breaches, and other risk exposure caused by those vendors.

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Compliance Technology 52

Reynolds Holding

NOVEMBER 29, 2022

FTX [1] is a Bahamas-based cryptocurrency exchange founded in 2019 that, at its peak in 2021, had over 1 million users, making it the world’s third largest crypto exchange by volume. Since November 11, 2022, though, FTX has been in bankruptcy, having borrowed extensively and used the assets of its clients in a likely and spectacular fraud.

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