Audit Board

APRIL 13, 2023

Facing a constantly expanding risk spectrum, today’s business leaders are prioritizing efforts to improve and connect risk management efforts. How can business leaders create a foundation for sustainable, successful IRM? We’ll take an in-depth look at performance and resilience below. Download the full ebook to learn more.

Compliance 52

Compliance Start-ups Technology Specific Risk 52

Audit Board

JANUARY 17, 2023

Stop trying to perform risk assessments alone! Auditors should collaborate with business leaders, other assurance teams, and other departments that are performing risk assessments in order to gain a comprehensive perspective on their risks. If we want to perform more meaningful risk assessments, we cannot work in a silo.

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Audit Board

JANUARY 9, 2023

According to a recent report from Protiviti , companies of every size — from established blue chip businesses to small startups — plan to strengthen their risk management processes in 2023. . As a result, the digital transformation of businesses rapidly accelerated at an unprecedented rate.

Technology 52

Technology Compliance Marketability 52

ThomsonReuters

OCTOBER 24, 2023

In addition, as businesses become more globalized, accountants must be able to account for transactions in multiple currencies,” wrote Benjamin Wann, owner of Asheville, N.C. based CFO Consultants, in a blog post. Data is king in today’s fast-paced world of finance and tax. Fortunately, tax departments are not powerless.

Compliance 52

Compliance Technology Finance 52

Audit Board

MARCH 9, 2023

Business leaders need to be more effective in identifying, understanding, and measuring the risks and risk priorities most relevant to their businesses, enabling them to make better, more risk-informed decisions. As the risk spectrum continues to expand, integrated risk management (IRM) is quickly becoming a business imperative.

Technology 52

Technology Compliance Marketability 52

ThomsonReuters

APRIL 15, 2021

Business needs are changing, requiring companies to seek new strategic capabilities. Modern businesses face unique challenges when trying to grow and stay competitive in a rapidly changing business environment. How CPA firms can help businesses at various stages that are seeking help to evolve.

Accounting Firms 96

Accounting Firms Compliance Technology Finance 96

Audit Board

JANUARY 25, 2023

Many businesses are realizing the benefits of the symbiotic relationship between integrating reporting, integrated thinking, and integrated risk management, which come together to support decisions and create efficiencies that drive value creation over time. However, this information’s reliability, meaningfulness, and use are suspect.

Start-ups 52

Start-ups Technology Compliance 52

Audit Board

JANUARY 12, 2023

This is often by design, as the intent is to encourage organizations to build a risk management program that is unique to the type of business being conducted and the type(s) of data being processed. Business Continuity Planning: Can we continue business operations in the event of unavailability of facilities?

Compliance 97

Compliance Start-ups Asset-based Approach Specific Risk 97

Audit Board

MARCH 16, 2022

In an era of unprecedented risk volatility, long-term business success requires getting in front of risk. As business leaders across the globe look to the future, they see an urgent need to streamline, automate and integrate their businesses in the face of great uncertainty. Performance. Four Critical IRM Objectives.

Compliance 52

Compliance Technology 52

Value Scope

JULY 21, 2020

It will return as a topic across the business, regulatory, and investment communities again soon. Valuation work associated with ESG might be relatively new, but the techniques and tools necessary to perform ESG valuation exist already. The morning business show Squawk Box began to mention “ESG” on a daily basis.

Intangible Assets 130

Intangible Assets Beta Alpha Unlevered Beta 130

ThomsonReuters

JANUARY 20, 2023

Consider what the Bureau of Labor Statistics cited as the most important qualities in 2022 for accountants and auditors: Analytical and critical-thinking skills Communication skills Detail oriented Math skills Organizational skills What skills do auditors need in the future?

Data Analysis 59

Data Analysis Technology 59

Audit Board

MARCH 29, 2023

Others make business decisions to cut product lines that are hard to source or require costly components. Risk managers should help organizational leaders understand the long-term impact of cost-reduction initiatives to avoid unexpected negative effects. Digital Disruption Digital disruption comes in many different forms.

Technology 52

Technology Compliance Finance 52

ThomsonReuters

MARCH 1, 2024

How a corporate tax software can help filing S corporation taxes Setting up your business as an S corporation (S corp) provides several tax advantages that are not available to owners of C corporations (C corp) or Limited Liability Companies (LLCs). Jump to: How are S corporations taxed? How can S corporations reduce their taxes?

Start-ups 52

Start-ups Dividends Marketability 52

Audit Board

APRIL 4, 2023

Gaining a true understanding of your stakeholders’ day-to-day activities, as well as their business unit’s goals, will help you embed governance into their processes in a practical and considerate way that ideally helps improve their processes. Thus, developing a positive rapport with stakeholders is essential to continuous compliance.

Compliance 52

Compliance Start-ups Technology Marketability 52

Audit Board

JUNE 13, 2022

The goals should be quantifiable, leveraging key performance indicators, so the project manager and project team can track their progress toward the objective. At this point, the project manager will map out the project workflow between those performing test procedures and the individuals performing a quality review.

Start-ups 98

Start-ups Technology 98

Audit Board

JULY 27, 2022

Maintaining strong organizational governance requires the CAE and the audit committee to work in sync. Each topic on the audit committee meeting agenda must connect back to organizational risks or other explicit responsibilities of the audit committee. Keep the conversation in terms of business objectives and related risks.

Compliance 89

Compliance Technology 89

Audit Board

SEPTEMBER 6, 2023

Connect these emerging topics to organizational goals or objectives. Examples of emerging topics include: Recent incidents and their business impact. KPIs Key performance indicators provide a snapshot of the effectiveness of your InfoSec efforts. These are broken down in more detail below.

Compliance 52

Compliance Technology Marketability 52

ThomsonReuters

MAY 23, 2023

In truth, however, AI is really just another tool developed by humans to help them perform certain tasks faster and easier. At the same time, Thomson Reuters has assembled a world-class organization of subject-matter experts (practicing attorneys, tax specialists, researchers, organizational consultants, etc.)

Technology 52

Technology Compliance Finance 52

ThomsonReuters

JULY 11, 2023

Changing priorities when hiring accounting staff As you broaden the scope of services offered to meet client needs, primarily in business advisory services, and help clients address increasingly complex tax law changes and compliance measures, the skillset and competencies required are changing. According to Revelio Labs Inc.,

Technology 73

Technology Start-ups Accounting Firms Compliance 73

Audit Board

MARCH 15, 2022

Issues in the supply chain, such as production slowdowns, inventory shortages, or delayed delivery, impact businesses and consumers alike. While some loyal customers may sympathize with your situation, others will find new business relationships. Supply chain disruption is one of the most visible risks impacting many organizations.

Compliance 98

Compliance Start-ups 98

Audit Board

FEBRUARY 22, 2023

In a business climate of emerging security risks and expanding regulatory requirements, security and compliance leaders are struggling under the pressure of maintaining ongoing compliance. Furthermore, stakeholders are sometimes subject to requests from teams performing different assessments with overlapping scope.

Compliance 52

Compliance Technology 52

Audit Board

APRIL 20, 2022

The expansion of the SaaS business model has led to a proliferation of System and Organization Control (SOC) 2 reports to meet the needs of businesses requiring detailed information regarding their IT vendors’ controls related to security, availability, confidentiality, processing integrity, and privacy. While the Security (a.k.a

Compliance 98

Compliance 98

Audit Board

JUNE 6, 2023

With continuous assurance , auditors address risk and control deficiencies in near real-time instead of performing point-in-time assessments that consist of reviewing past activities. Independence does not mean we cannot collaborate with the business.

Compliance 52

Compliance 52

Audit Board

JUNE 2, 2022

What is the best way to formalize your plan, policies, and processes for continually identifying new third parties working with the business? Based on the risk profile of your organization, you could also consider categorizing third parties based on questions such as: Is the third party a critical dependency to meet organizational objectives?

Technology 52

Technology Compliance 52

Audit Board

JUNE 13, 2022

With IRM, the risk management team works together with all business segment leaders to share and visualize data around risk, determine the organization’s true appetite for risk, ensure compliance, and communicate the risk and risk mitigation strategies to the C-Suite.

Compliance 52

Compliance Technology Start-ups Marketability 52

Audit Board

MAY 6, 2022

During those meetings, the audit committee needs to digest a great deal of information related to trends and risk exposures that are occurring, the organization’s performance in managing risk, and internal audit strategies to improve their focus on risk, as well as to review the structure and composition of the department’s resources. .

Compliance 98

Compliance Technology Specific Risk 98

Audit Board

JULY 14, 2022

In just the past 90 days, my team, like so many others, has had to consider the organizational impact of emerging risks related to fuel shortages, food shortages, geopolitical unrest, legislation changes, pandemics, mass shootings, protests, and more. Trying to keep up with emerging risks can be exhausting.

Start-ups 52

Start-ups Specific Risk 52

Reynolds Holding

APRIL 19, 2023

See, e.g. , Bird and Manning Magrid’s excellent piece in the pages of this blog.) Competitive advantage is how a firm performs in a way that is superior to its competitors. In the corporate law community, we too often claim that good corporate governance is a competitive advantage. What’s “Corporate Governance”? Porter , 1998.)

Marketability 64

Marketability 64

Audit Board

AUGUST 8, 2023

Enterprise risk management is a methodology of risk management, taking a top-down approach to the risk management process, and taking into account the organization and senior management’s business objectives and strategic objectives. The need for a centralized and enterprise-wide approach to risk management gradually became clear.

Compliance 52

Compliance Start-ups Technology Marketability 52

Audit Board

JUNE 22, 2023

As more businesses across all sectors continue to invest in new technologies, internal auditors must take a closer look — from a privacy, security, and trust perspective — at the guardrails that exist to protect and manage confidential and private information related to employees, customers, and third parties.

Technology 52

Technology Compliance 52

Audit Board

SEPTEMBER 14, 2023

Managing the risk exposures that come with partnering or doing business with a third party, whether they play a large role in your organization or a negligible one, is why the practice of vendor risk management exists. Those consequences can range from fines to losing business relationships, among other potential outcomes.

Compliance 52

Compliance Start-ups Accounting Firms Technology 52

ThomsonReuters

JULY 19, 2022

Most employers pay their employees’ wages for services performed within one of the following frequencies: weekly, bi-weekly, semi-monthly, and monthly. This process differs from payday lending because the worker has already performed the work for which he or she is being paid. Pay frequency. However, some U.S. Early/earned wage access.

Start-ups 98

Start-ups Treasury Banking Technology 98

Reynolds Holding

APRIL 10, 2023

While some larger institutions have progressed in building controls around environmental, social, and governance (ESG) reporting, many organizations have designed ad hoc controls around certain key sustainable business metrics. Many also perform internal verification and assurance procedures to ensure management comfort with this information.

Compliance 45

Compliance Going Concern Value Start-ups Finance 45

Audit Board

JUNE 15, 2022

Further, 27001 is a certification standard , which means organizations can become certified when they undergo an ISO compliance audit performed by auditors. The 14 clauses in which the 114 controls were previously organized have been simplified to 4 main theme areas, which are Organizational, People, Physical, and Technological. .

Compliance 52

Compliance Start-ups Technology 52

Internal Audit 360

DECEMBER 8, 2022

GUEST BLOG. Some were materiality based, but none were risk based, because they were all disconnected from the underlying organizational risk profile. (If The biggest lie the Institute of Internal Auditors ever sold business is that auditors understand risk. The problem? Ok, this is too funny.

EBITDA 52

EBITDA Market Risk Marketability 52

Audit Board

AUGUST 10, 2023

The “G” in ESG involves governance, and has to do with how well an organization’s internal controls are functioning; a business’s ESG strategy; and how the company handles ESG risks. ESG disclosures have taken the spotlight in recent years as part of a trend of increased scrutiny around risk, compliance, and cybersecurity.

Compliance 52

Compliance Start-ups Data Analysis Equity 52

Audit Board

MARCH 28, 2023

The Financial Services (FinServ) sector constantly changes with expanding organizational risk profiles, tighter regulations, and rising stakeholder expectations, creating a demanding assurance landscape for internal audit teams. Staying current in a rapidly changing regulatory landscape requires a different approach.

Technology 52

Technology Banking Compliance 52