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.

Technology 52

Technology Start-ups Compliance Marketability 52

Audit Board

JULY 11, 2023

This IDC Spotlight, sponsored by AuditBoard, The Coming ESG Reporting Imperative , educates leaders involved in ESG program management on implementing purpose-built ESG reporting. Systematize management. As with other risk management processes, ESG requires controls to be linked to policy. Framework mapping.

Compliance 52

Compliance Technology Marketability 52

Audit Board

JANUARY 4, 2023

As attacks grow in frequency and severity, organizations cannot take a “business as usual” approach to IT risk. The most successful companies have a simple process in place to capture the root cause of issues, establish corrective action plans, [and] continually focus on improving the GRC environment,” a PwC study of IT risk programs states.

Compliance 98

Compliance Technology 98

Audit Board

MARCH 22, 2022

While the new regulations are commonly being referred to as ESG laws, the language of the regulations only applies to environmental risk factors. The sustainability information statement requires companies to report the following: A listing and description of environmental risks identified as impacting the company’s operations.

Compliance 105

Compliance Technology 105

ThomsonReuters

JUNE 28, 2023

Let’s take a look at some best practices accounting firms can use to help clients overcome the challenges of ESG data collection and management. The ability to accurately identify and manage this data helps your clients build trust amongst their stakeholders and demonstrates a commitment to society.

Accounting Firms 98

Accounting Firms Compliance Start-ups Technology 98

Audit Board

JUNE 3, 2022

Environment, Social, Governance (ESG) is a framework for assessing risks to a company’s operations related to large-scale, long-term environmental, social, and governance issues. An ESG audit is an assessment of the risks an organization faces related to environmental, social, and governance domains. What Is an ESG Risk? .

Compliance 98

Compliance Start-ups Equity Finance 98

Audit Board

JUNE 15, 2023

In the field of cybersecurity, risk management, and compliance, there are a collection of acronyms that you’ll hear often enough. Each of these organizations plays a role in the shifting tectonics of security, compliance, and risk. The NIST CSF has five central functions: Identify, Protect, Detect, Respond, and Recover.

Technology 52

Technology Compliance Start-ups Finance 52

Audit Board

MARCH 22, 2023

Enterprise risk encompasses regulations, finance, operations, technology, reputation, strategy, and many more — and losing control over any one of these risk areas could mean disaster. Lately, with the increased focus on strong governance requirements, there is more scrutiny over risk management programs.

Compliance 52

Compliance Treasury Technology Finance 52

Internal Audit 360

JULY 20, 2022

GUEST BLOG: O ne of the challenges when it comes to so-called “cybersecurity risk” is in accepting and then applying the idea that cyber is not an “IT risk.” It’s a business risk. If we are to assess cyber-related business risk, we have to have the answer to that question. Advice for Auditors on Cyber-risk.

Compliance 98

Compliance Start-ups Technology 98

Audit Board

MARCH 7, 2023

Selecting ESG frameworks and ratings that align with the metrics that matter to your business can be the right starting point for many businesses. Most companies align with multiple ESG frameworks or ratings. Get the full guide here , and read on for an overview of the different ESG frameworks and ratings, and what to know about each.

Enterprise Value 52

Enterprise Value Start-ups Finance Marketability 52

Audit Board

APRIL 13, 2023

Management review controls (MRCs) are critical to any organization’s internal control framework. By their nature, MRCs vary greatly, allowing management the flexibility to enact specific control processes designed to fit the needs of a unique situation that may otherwise lack control.

Technology 52

Technology Compliance 52

Audit Board

AUGUST 16, 2023

Effective risk management takes a proactive and preventative stance to risk, aiming to identify and then determine the appropriate response to the business and facilitate better decision-making. What Are Risks? Nevertheless, we choose to take on those risks, and may benefit from doing so.

Start-ups 52

Start-ups Compliance Technology Specific Risk 52

Audit Board

DECEMBER 14, 2022

A lightweight gap assessment helps a business estimate how much effort it will take to comply with a framework or requirement. . A readiness assessment is a full analysis of the business environment, performed after the business has made the commitment to comply with a framework. Selecting a Robust Baseline Framework .

Compliance 52

Compliance Technology Marketability 52

Audit Board

SEPTEMBER 20, 2023

Throughout the preparation of financial statements, companies need to be aware of ICFR requirements, considering the organization’s control environment, control activities, any control deficiencies, and their effect on the risk of material misstatement. ICFR’s importance rose with the Sarbanes-Oxley Act of 2002 in the U.S.,

Compliance 52

Compliance Technology Start-ups Accounting Firms 52

Audit Board

JANUARY 25, 2023

In addition, these new reporting efforts have created independent cost structures within companies dedicated to managing sustainability and ESG risks in an ad-hoc, fragmented way. Wide-ranging differences between 600+ competing ESG standards and frameworks make it hard to compare performance.

Start-ups 52

Start-ups Technology Compliance 52

Audit Board

DECEMBER 25, 2022

With increased regulatory scrutiny on cybersecurity, third-party exposure, and Environmental, Social, and Governance (ESG), compliance risk was a major concern for organizations in the past year. In 2022, AuditBoard hosted 40 audit, risk, and compliance webinars that attracted over 40,000 attendees. 2022 Compliance Webinar Trends.

Compliance 52

Compliance Start-ups Technology Equity 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.

Compliance 52

Compliance Start-ups Data Analysis Equity 52

ThomsonReuters

JUNE 23, 2022

Security Risk Assessment Tool; Security Risk Assessment Tool v3.3 HHS’s Office of the National Coordinator for Health Information Technology, in collaboration with its Office for Civil Rights, has announced an updated version of the interactive Security Risk Assessment (SRA) Tool. User Guide (May 5, 2022). User Guide.

Compliance 98

Compliance Technology 98

Audit Board

JANUARY 23, 2023

There remains a proliferation of standards and frameworks without cast-iron agreement on definitions. There are unregulated ESG rating agencies making assessments using different criteria and all this is taking place within an evolving regulatory framework. Companies Act 2006 (directors’ duties).

Start-ups 52

Start-ups Compliance Banking 52

Audit Board

NOVEMBER 8, 2022

With risks constantly changing and driving new compliance requirements, compliance programs must be able to respond to changes with agility. NIST defines continuous monitoring as: “Maintaining ongoing awareness of information security, vulnerabilities, and threats to support organizational risk management decisions.”

Compliance 52

Compliance Start-ups Technology Marketability 52

ThomsonReuters

JANUARY 9, 2024

To do this, there are three key considerations to bear in mind: Harnessing technology will be central to managing 2024 GMT requirements efficiently Navigating the intricate web of new regulations entails overseeing the distinct rules set across 138 countries in the BEPS initiative.

Technology 88

Technology 88

Audit Board

SEPTEMBER 14, 2023

The importance of robust vendor risk management, or “VRM”, practices has been illustrated by a number of cyberattacks and data breaches that have originated from vendors and gone on to significantly impact the organizations using their services. What is Vendor Risk?

Compliance 52

Compliance Start-ups Accounting Firms Technology 52

Audit Board

AUGUST 15, 2023

Your board and investors are thinking about risk — it drives their decisions. You’re already making risk-based decisions: when you see risk but don’t talk about it – you own that risk. Talking with board members about risks to business objectives is, therefore, a meaningful way to support them.

Compliance 52

Compliance Start-ups Technology Marketability 52

Audit Board

JULY 20, 2023

Four key compliance processes can be transformed through automation: scoping frameworks, implementing controls for gaps, automating evidence collection, and establishing continuous monitoring. The process can take more than 40 hours for one framework and is extremely grueling.

Compliance 52

Compliance Technology 52

ThomsonReuters

MAY 27, 2022

For those with small supply chains, keeping up with the changes may be nothing more than a manageable headache. But for those operating in a complex network of manufacturers, logistics partners, distributors, raw goods suppliers, and sales channels, remaining compliant carries tremendous burden and risk.

Compliance 93

Compliance eCommerce Start-ups Technology 93

Audit Board

JULY 26, 2023

We live in the era of technological transformation, where business-owned digital assets brim with an abundance of sensitive employee, customer, and vendor data, while a formidable burden rests upon the shoulders of the information security teams tasked with safeguarding these assets through robust and resilient IT risk management programs.

Start-ups 52

Start-ups Technology 52

Reynolds Holding

MARCH 23, 2023

Proposals such as an “AI Bill of Rights ” or a voluntary AI risk-management framework neither directly address ChatGPT nor entail meaningful interventions. whether is suffers from a market failure), the AI Act takes a risk-based approach. A version of this post appeared on the Oxford Business Law Blog.

Compliance 92

Compliance Marketability Technology 92

Audit Board

MAY 5, 2023

Today, it might be risk to reputation and risk of greenwashing, but tomorrow we could have major consequences for compliance with certain laws and legislation, as well as damage to your reputation.” Claire Feeney: “We’re seeing ESG becoming more and more a key part of risk management and, in turn, embedded in business strategy.

Start-ups 52

Start-ups Compliance Technology Marketability 52

Sun Acquisitions

APRIL 26, 2024

Risk Mitigation and Reputation Management One of the primary reasons sustainability has become integral to the M&A process is risk mitigation. Companies with poor environmental, social, and governance (ESG) practices are exposed to regulatory, legal, and reputational risks.

Compliance 52

Compliance Marketability 52

Internal Audit 360

APRIL 13, 2023

GUEST BLOG Editor’s Note: The views expressed here are the opinions of the author. I n March, the Institute of Internal Auditors released a draft version of an overhaul of its professional practice standards and framework that intend to guide the behavior and actions of internal auditors as they carry out their work.

Start-ups 110

Start-ups 110

Reynolds Holding

APRIL 23, 2024

In a new article, I examine the types of pre-packs around the world and their risks and advantages. Bankruptcy Code does not have a formal regulatory framework for pre-packs. Therefore, there is a higher risk of opportunism of debtors in relation to creditors. A version of this post appeared on the SGRI blog.

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Audit Board

SEPTEMBER 29, 2023

In today’s data-driven business environment, ineffective cyber risk management can pose a serious threat to achieving strategic business objectives. According to PwC ’s 2023 CEO Survey, cyber risk ranks among the top three areas where insurance CEOs feel most financially exposed , in addition to inflation and economic volatility.

Compliance 52

Compliance Technology Finance Marketability 52

Audit Board

JANUARY 29, 2023

We’re hearing from customers that there are efforts underway to meet stakeholder expectations through ESG reporting, disclosures, and commitments delivered through ESG program management. There are inconsistent standards for metrics and data, and ongoing manual efforts to align to frameworks and standards.

Technology 52

Technology Compliance Finance 52

ThomsonReuters

JANUARY 12, 2023

Environment, Social and Governance (ESG) is a framework for evaluating risks and opportunities related to a company’s operational impact on the environmental, social issues, and governance factors. . Environmental risks include pollution of the air, water, or soil, as well as climate impact, carbon footprint, and energy use. .

Compliance 52

Compliance Technology Accounting Firms Equity 52

Audit Board

OCTOBER 3, 2023

A common misconception about risk quantification is that it requires starting from scratch. In reality, businesses that are already documenting their IT risks and controls can build on the data they already have to begin quantifying their risks. Identify the threats applicable to your assets that could trigger risk events.

Technology 52

Technology Compliance 52

Audit Board

JUNE 28, 2022

Organizations with immature risk management environments are facing challenges to evolve. With minimal historical risk information to build upon and little to no pre-existing enterprise risk management (ERM) process, it’s difficult to see organization-wide risk clearly or ensure appropriate follow-through.

Start-ups 52

Start-ups Technology Marketability 52

Audit Board

JULY 25, 2022

Every business faces cyber risk. Ineffective cyber risk management increases a business’s susceptibility to cyber breaches that bring heavy financial costs, regulatory fines, operational disruption, and reputational damage. Three Ways to Effectively Manage Cyber Risk and Reduce Cyber Liability Insurance Costs .

Compliance 52

Compliance Technology Finance 52