Elizabeth Johnstone, the chairman of the ASX Corporate Governance Council in Australia, has a frank message for internal auditors: stop being intimidated by company executives and board members. While Johnstone was addressing risk and governance failures in Australia, including multiple scandals at the Commonwealth Bank of Australia, her words serve Read More
Recent corporate scandals linked to problematic company cultures have led directors to look for ways to better monitor corporate culture, while trying to understand potential cultural risks and address problems before they get out of control. By treating culture risk as part of an integrated process of oversight that addresses Read More
China is drafting new rules to rein in businesses offering multiple financial services after runaway growth in recent years has left regulators without a firm handle on their risks to the economy. Officials at China’s central bank are preparing to roll out new rules to bring risk management and capital Read More
Risk and internal audit expert Norman Marks recently expounded on the idea of what are the attributes of a great risk officer. “While for some situations, especially where a key decision is needed and multiple possibilities (and multiple effects) need to be carefully analyzed, quant methods such as modeling and Read More
Audits of the extended enterprise can yield benefits, such as greater flexibility, innovation, brand confidence, and even revenue gains. There are big risks lurking in your supply chain and in interactions with the vast network of third parties with whom companies do business. A new survey by Deloitte finds that Read More
Editor’s Note: This is part one of a six part series on the internal audit value chain, which can act as a blue print for building a successful internal audit function. Click here for the other articles in the series. We’ve all heard the many clichéd ways to describe when Read More
In a hyper-partisan world, companies can easily get pulled into political battles, risking alienating customers and suffering reputational damage. It’s time to assess the risks and get it on your risk radar. For internal auditors, political risks have generally meant keeping an eye on the geo-political changes in countries where Read More
President Donald Trump’s announcement that his administration plans to impose tariffs on foreign-imported steel and aluminum threatens to land the United States and its trading partners into a global trade war. That prospect raises serious risks for U.S. companies in several industries that internal audit leaders and risk managers may Read More
The Committee of Sponsoring Organizations (COSO) released new draft guidance in February for applying its Enterprise Risk Management framework to risks related to environmental, social, and governance (ESG) issues. The existing COSO framework, Enterprise Risk Management — Integrating with Strategy and Performance, is one of the most widely recognized and Read More
When Steve Wynn became the subject of allegations that he committed a series of sexual assaults, shares in his eponymous gaming company plunged 18 percent. Wynn is just the latest in a raft of sexual harassment and gender-based violence claims that have spread through the finance, technology, media, and other Read More
