Hi Global Risk Community member,
If your company is looking to go public, you know there are hurdles to overcome to meet the compliance requirements for financial reporting, business processes, and user access into your critical business systems.
Don’t wait to put the necessary controls in place.
The Sarbanes-Oxley Act requires CEOs and CFOs to be responsible for the integrity of the financial statements of the company.
Ernst and Young recently stated, “Companies that exceeded overall ma
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Back in 2009, we blogged about the SEC’s decision to require board-level accountability for ERM. This decision was based on the conclusion that inadequate risk management allowed the regulatory failures that ultimately led to the financial crisis. As we wrote in that post, “boards are now required by the SEC to report in depth on how their organizations identify risk, set risk tolerances, and manage risk/reward trade-offs throughout the enterprise.”
That blog detailed an important ruling: it refe
In Malcolm Gladwell’s “Blink,” he examines a hospital whose team had learned that to diagnose heart attacks, it’s more beneficial to gather a few key indicators than to try and take every measure into account. I’ve found that to judge the health of ERM programs, there are also a subset of characteristics that seem to immediately indicate success.
- Does the ERM program engage the front lines?
- Can the program analyze information across silos?
- Has the program engaged, or integrated, with at least one o
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its Internal Control – Integrated Framework document all the way back in 1992 to assist publicly traded organizations adhere to the Sarbanes-Oxley Act (SOX) Section 404. COSO considers internal controls to be an integral part of enterprise risk management (as does LogicManager), and as such, any changes to the Internal Controls best practices has a direct effect on organizations with Enterprise Risk Management p
First, what is Sarbanes-Oxley (SOX) 404 compliance? It is the legal requirement for public companies that senior management state that their company's financial reporting is accurate. Sounds simple? The expense and the value are all in the execution. How is that done? Simply put, the flow of information from the financial reports themselves is traced and connected to the activities that generate that information and the resources that are depended upon to generate that information. That sounds l
CIS-Partners, a consulting firm specializing in compliance strategies for the pharmaceutical industry, wrote an article entitled, “Don’t Get Burned”. The main focus of this article is to discuss how organizations are shifting to third-party vendors and in turn, how internal auditors need to respond to the risks associated with this process.
View article here: http://www.cis-partners.com/downloads/RiskWatch_June2011_Don'tGetBurned.pdf
CIS-Partners is a sponsor of the upcoming marcus evans Life Sc
New companies with a market capitalization under USD 1 billion will now be able to opt-out of regulations within section 404 of the Sarbanes-Oxley (SOX) Act for the first ten years after going public. This option was previously available to companies under USD 75 million.
Congressman Ben Quayle introduced the Startup Expansion and Investment Act to, “make it easier for emerging companies to access the capital necessary to expand and create jobs”. Quayle noted that removing one of the many regula
