Enhanced focus on the consideration of fraud risks: • Fraud risk is not considered top of the Board’s agenda due to the perceived low cost of losses due to fraud; • Inordinate reliance on internal audit teams to tackle fraud risks; • Limited understanding of what constitutes an effective fraud risk management program. *Assess the […]
Challenges faced by senior management and the Board in understanding fraud Read More »
The accounting information systems that company’s use to pull all of this wonderful accounting information together and make it available to internal and external users. We will also learn about the internal controls that are built into the accounting information system to ensure the reliability of the financial information, the effectiveness and efficiency of operations
Accounting Information Systems and Internal Control Read More »
Toshiba – a case of internal audit failure Toshiba, a 140-year-old pillar of Japan Inc, is caught up in the country’s biggest accounting scandal since 2011. In 2011, Olympus Corp was embroiled in a scandal. In July 2015, Toshiba Corp president Hisao Tanaka and his two predecessors quit after investigators found that the company inflated
Internal audit failure leads to corporate governance failure Read More »
How might driver-based forecasting—an approach that bases financial forecasts on operational drivers—support your company’s performance management needs? In the following Q&A—based on questions asked by participants during a live webcast on the topic—we discuss driver-based forecasting, the business models that lend themselves to this approach, and alternative planning and forecasting approaches. We have a very
Risk of Internal Controls Failures: http://www.gmsisuccess.com Last week’s announcement by the Securities and Exchange Commission (SEC) of the resolution of its outstanding Foreign Corrupt Practices Act (FCPA) enforcement action with Halliburton Company continues to resonate and provide lessons for the compliance practitioner. [Full disclosure – I am a Halliburton shareholder] I wanted to continue to
Risk of Internal Controls Failures Read More »
Any one of a variety of risks could threaten an organization’s success and lead to a decrease in stakeholder value, including: globalization, technology, demands for customized products and services, shifts in regulation, mergers and restructurings, accounting and reporting deficiencies, and complex financial instruments. Leaders must be aware of a holistic approach to risk management and
Enterprise Risk Management — Integrated Framework Read More »
