Audit Board

SEPTEMBER 9, 2022

Vendor vulnerabilities continue to plague many industries and teams are struggling to manage the associated risk volatility. A strong third-party risk management (TPRM) program can help alleviate the impact of related risks. Trends and Approaches for Handling Third-Party Risk Management.

Start-ups 52

Start-ups Compliance Banking 52

N Contracts

JULY 18, 2023

In an ideal world, every third-party vendor would always provide impeccable service, deliver on time, and never cause any operational hiccups. Unfortunately, that’s not reality.

88

88

Harvard Corporate Governance

APRIL 23, 2023

As the 2024 election cycle begins in earnest, companies must act on their fiduciary responsibility to more closely monitor their political spending and the accompanying risks. They must look behind the curtain and demand to know how their money is spent and what risks their company is assuming. Jackson Jr.

Treasury 239

Treasury 239

Harvard Corporate Governance

MARCH 2, 2024

Proposed almost two years ago in March 2022, the proposed rules include disclosures relating to the following (see our Alert here ): Oversight and management of climate risk. Impacts of climate-related risks on the registrant’s business, financials, strategy, business model and outlook over the short-, medium- and long-terms.

Marketability 141

Marketability 141

N Contracts

JANUARY 18, 2024

That’s a lot of contracts to manage. Without a standardized and centralized approach to contract management, there’s no way for a financial institution to truly understand its third-party risk or the controls available to manage it.

Banking 95

Banking 95

N Contracts

JUNE 9, 2023

Two years after it was first proposed , the Interagency Guidance on Third-Party Relationships: Risk Management has been finalized.

Banking 70

Banking 70

Harvard Corporate Governance

MARCH 21, 2022

Today, the Commission is considering a proposal to mandate climate-risk disclosures by public companies. Our core bargain from the 1930s is that investors get to decide which risks to take, as long as public companies provide full and fair disclosure and are truthful in those disclosures. more…).

188

188

Audit Board

APRIL 13, 2022

With rising inflation and supply chain bottlenecks, companies are looking for ways to manage risks and expenses. An important strategy in such a disruptive environment is to review your company’s third-party relationships. Can You Conduct a Third-Party Culture Risk Assessment?

Compliance 98

Compliance 98

N Contracts

AUGUST 23, 2023

Your financial institution’s Board of Directors plays an important role in vendor management. They establish the strategic goals of your financial institution, determine its risk tolerance, and offer high-level guidance for the governance of third-party relationships.

93

93

Harvard Corporate Governance

AUGUST 9, 2023

Given the ubiquity, frequency and complexity of these threats, in March last year, the SEC proposed cybersecurity disclosure rules intended to help shareholders better understand cybersecurity risks and how companies are managing and responding to them. Currently, many public companies provide cybersecurity disclosure to investors.

Marketability 246

Marketability Technology 246

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

N Contracts

MARCH 15, 2024

Complaint management requires direct communication, but that’s easier said than done. Departments are named after the specific set of tasks they focus on (compliance, risk, vendor management, lending, or customer service). Risk management ensures risk is identified, measured, mitigated, and monitored throughout the institution.

Compliance 52

Compliance 52

N Contracts

JULY 6, 2023

Vendor due diligence is the practice of thoroughly assessing and managing the risks associated with your bank’s third-party service provider relationships.

Banking 82

Banking 82

Harvard Corporate Governance

JUNE 29, 2023

The US Securities and Exchange Commission (SEC) is expected to adopt final rules requiring detailed disclosure by companies of climate-related risks and opportunities by the end of 2023. The world’s largest asset manager, Blackrock, Inc., more…)

Technology 316

Technology 316

Audit Board

OCTOBER 12, 2023

60% of organizations work with over 1,000 third-parties. That number is expected to skyrocket in a short amount of time–and TPRM risk initiatives aren’t keeping pace. Providing third-party relationship insight that can be utilized during contract negotiation/renewal (e.g.,

Technology 52

Technology Compliance Banking 52

Audit Board

JUNE 30, 2023

83% of executives only identified third-party risks after initial onboarding had already occurred. While the third-party risk universe has expanded dramatically, risk management hasn’t kept up. Prior to the COVID-19 pandemic, supply chain risk was an afterthought for many companies.

Compliance 52

Compliance 52

Audit Board

JUNE 30, 2023

83% of executives only identified third-party risks after initial onboarding had already occurred. While the third-party risk universe has expanded dramatically, risk management hasn’t kept up. Prior to the COVID-19 pandemic, supply chain risk was an afterthought for many companies.

Compliance 52

Compliance 52

Harvard Corporate Governance

AUGUST 24, 2022

Tayan; David Larcker , Professor of Accounting at Stanford Graduate School of Business; Edward Watts , Assistant Professor of Accounting at Yale School of Management; and Lukasz Pomorski , Lecturer at Yale School of Management.

Marketability 351

Marketability 351

Harvard Corporate Governance

DECEMBER 4, 2022

On October 26, 2022, by a 3-2 vote, the Securities and Exchange Commission proposed to require SEC-registered investment advisers to conduct both documented due diligence before hiring, and continued oversight of, third-parties when outsourcing certain functions necessary to the adviser’s provision of investment advice.

100

100

Audit Board

APRIL 27, 2022

Digital risk has become one of the fastest-growing, most pervasive risks in any organization. Gartner defines “ digital risk ” as the set of risks inherent in digital products, services, and supporting processes. Meanwhile, only 18% of respondents place ownership of digital risk with business management.

Technology 105

Technology Compliance 105

Audit Board

FEBRUARY 8, 2023

With third-party breaches continuing to escalate in velocity and impact, it’s no longer enough to secure internal assets; organizations must be doubly sure any sanctioned entity with network permissions does not become an unwitting conduit for malicious activity.

Compliance 52

Compliance Technology 52

Audit Board

FEBRUARY 28, 2023

Respondents from CyberRisk Alliance Business Intelligence’s November 2022 Third-Party Risk Survey believe third parties are increasingly the cause of IT security incidents, while some think they have been the primary source of attacks in the past two years.

Compliance 52

Compliance Technology 52

N Contracts

OCTOBER 1, 2022

EXECUTIVE SUMMARY: Vendor risk management is an ongoing process. It begins with due diligence before a contract is signed and continues with monitoring throughout the length of the relationship.

Compliance 52

Compliance Banking 52

N Contracts

JUNE 20, 2023

As environmental, social, and governance (ESG) issues continue to gain prominence, some financial institutions are looking for ways to integrate ESG considerations into their vendor risk management processes.

75

75

Audit Board

MARCH 7, 2023

Third-party vulnerabilities have led to some of the most debilitating cyber attacks in recent years, including Toyota , Volkswagen , Accellion , Comcast , Okta , Uber , and SolarWinds. As a former GRC program leader, vendor risk management was part of my daily work.

Compliance 52

Compliance 52

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). Establish a periodic reassessment cadence based on risk level. .

Compliance 52

Compliance 52

Audit Board

JULY 19, 2023

Nine out of ten organizations are maintaining or increasing technology investments across all risk objectives. However, as investment in digital transformation proliferates, so does digital risk. Approximately 1 in 5 organizations (21%) are not managing and monitoring third-party digital risk.

Compliance 52

Compliance Technology 52

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. .

Compliance 97

Compliance Start-ups Asset-based Approach Specific Risk 97

Benzinga

JANUARY 8, 2024

08, 2024 (GLOBE NEWSWIRE) -- VelocityEHS , the global leader in enterprise EHS & ESG software solutions, announced today it has completed the acquisition of Contractor Compliance , a Canadian-based enterprise safety and risk management software solution provider. CHICAGO, Jan.

Compliance 40

Compliance 40

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.

Compliance 52

Compliance Start-ups Technology Equity 52

Harvard Corporate Governance

NOVEMBER 23, 2022

Eccles is Visiting Professor of Management Practice at Oxford University Said Business School. Investors are most supportive, followed by NGO/Third sector and then Companies. Commentators of different types referred to the SEC’s authority in their submissions (see, for example, Impax Asset Management L.L.C. ,

Banking 189

Banking Finance Corporate Finance Accounting Firms 189

Reynolds Holding

DECEMBER 21, 2023

On December 8, 2023, the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) published a joint consultation paper titled ”CP26/23 – Operational resilience: Critical third parties to the UK financial sector.” What Are the Fundamental Rules and Operational Risk and Resilience Requirements Proposed?

Treasury 45

Treasury Banking Start-ups Technology 45

Audit Board

AUGUST 25, 2022

Third-Party Risk Management Solution. See AuditBoard’s new Third-Party Risk Management solution in action. Introducing AuditBoard’s Third-Party Risk Management (TPRM) solution ! Enhanced Tester and Reviewer Experience.

52

52

Audit Board

OCTOBER 18, 2023

With AuditBoard® Analytics, teams can drive efficiencies, increase coverage and audit precision, and improve decision making, all part of our connected risk platform. Audit Scoping functionality is now also available in OpsAudit, which enables teams to scope audits using integrated entity, risk, and control data from across the platform.

52

52

Harvard Corporate Governance

MARCH 24, 2022

Modern firms routinely manage their financial reporting systems using third-party cloud computing and other enterprise technologies. This practice, while often facilitating cost reductions and remote work, puts the integrity of the financial statements at risk, especially given the threat of cyberattacks. Indeed, U.S.

Technology 196

Technology 196

Peak Business Valuation

APRIL 25, 2024

Without one, the risk of poor decision-making grows. Sellers can minimize the risk of undervaluing or overvaluing their industrial equipment. For both parties, an equipment appraisal establishes trust and confidence. An equipment appraisal gives lenders an objective, third-party valuation of the equipment.

Appraisal 52

Appraisal Business Valuation Marketability Finance 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