NEWS
Please mark your calendar for April 17th 2013 for
the Audit Committee issues, April 9th for the conference on the Bank Union
and May 15-16 for the annual Copenhagen Compliance.
What are the common reasons for the issues and challenges
related to strategy, risk management, dialog with stakeholders on IT governance
issues, related to cyber security?
Rarely does one size fit all – but obviously this
article will help those that read, understand and apply it. In addition
to providing leading best practices in key areas of oversight, based on
our experience this article offers 10 principles to help guide Board of
directors, senior management and audit committees in their oversight of
the financial-reporting process.
Volatility is becoming the new normal in the corporate
world, and the harmful effects of regulatory compliance provide a reminder
of the importance of being prepared for virtually anything.
Dissatisfaction on the organization's governance activities-risk
management, controls, compliance, crisis response, strategy and board oversight
on the company's reputation and brands are areas of concern.
We need to fully understand what the EU oversight
authorities are doing to bring the crisis to an end. Each financial institution
in the EU must prepare an objective analysis as well as a practical plan
on how to move forward and get clear answers on how to get the regulatory
systems back on track.
Values and culture may be the cornerstone of governance
because they drive behaviors of people throughout the organization and the
ultimate effectiveness of its governance arrangements.
The EU commission's action plan on the Companies Act,
Governance, Risk and Compliance activities, and a determination to avoid
future systemic financial crises, has now been published
The European Commission is working on a draft regulation
that will create audit-only firms in the European Union. This seems to imply
that there are flaws in how accounting firms currently operate, or that
the regulations are inadequate in the protection of the public interest.
HP is expected to face a barrage of lawsuits by investors
seeking to recoup losses. Its shares fell 12 percent to a 10-year low last
week after it announced an $8.8 billion write-down on its acquisition of
Autonomy.
Those accountable for key risk policies on the board
and within management must be sufficiently empowered to put the brakes on
the firm's risk taking, but they also must enable the firm to conduct well-managed,
profitable risk-taking activities that support the firm's long-term sustainable
success.
Effective change management is critical to the successful
outcome of a large project like implementing regulatory compliance activities.
The change project should be implemented in an effective and easy way so
that the change process ensures that each change process is properly defined,
considered and approved before implementation.
12th March 2013: THE EXECUTIVE FRAUD AND CORRUPTION
SURVIVAL GUIDE.
