of Risk Culture is the key to compliance
Over the past years especially after the financial crisis expectations
for oversight-control has shot up. The regulatory and stakeholder
attention is focused on the need to improve the company's oversight
of Governance, risk management and compliance activities related to
appetite and tolerance levels. Moreover, now the focus is on developing
frameworks and roadmaps to document the board and senior executives'
attention to risk ad compliance structure in the organisation.
2015 Tone-at- the-Top worry is on Reputational Risk, Part II/II
While executive directors often blame regulatory risks for taking
much of their time, the concern for reputation risks has grown over
the years. The high-profile media coverage e.g. the BP oil spill in
the Gulf of Mexico, the global LIBOR and HSBC scandals that have lead
to even greater banking regulation. The FIFA scandal that continued
for a couple of decades, before US authorities put their foot down,
or Petrobras scandal in Brazil, has changed the tone-at-the-top agenda.
Governance of Global Bribery, Fraud, and anti-Corruption Management
Asian business leaders will gather to get guidance on Fraud, anti-Corruption
& Investigations at the at the 3rd Annual Summit in Hong Kong from
the 2-4th November 2015, to discuss the serious bribery and anti-corruption
problem, that continue to be prevalent in many countries and hinders
business growth & development.
Process integration (FPI) of Compliance Activities.
At a time when profits are down, and budgets are being cut the
compliance risk professional is faced with ever increasing regulatory
demands to comply. There are real resource implications, therefore,
essential that all stakeholders join forces so that all processes,
transactions, and controls are screened and monitored. Forward integration
can help achieve compliance competence without diluting and weakening
the compliance risk function.
a horror story of bad governance and the destruction of corporate
Bad Corporate Governance often signals concern for the board and
management to identify the broken 'governance' components in the organisation.
There is a need for the right analysis that is capable of providing
the insight, culture and nature of the significant risks. At the 9th
annual European GRC Summit in Stockholm, we will review the governance
processes to evaluate their corporate vulnerability, and provide guidance
on a systematic evaluation to look for symptoms of bad governance
behavior that identify the key risk areas.
The Regulatory Compliance Cookbook
Instead of delegating the regulatory compliance authority to the
oversight bodies, to avoid a new financial crisis, the right approach
would have been to analyse the accrued Governance, Risk Management
and Compliance (GRC) failures, and to rewrite the compliance recipes
based on facts. Regulators were rather slow to recognize the impending
collapse of the financial system because a comprehensive compliance
rule-book was unavailable in 2008.
changes to EU data protection directives could affect businesses in
From 2017, the new EU data protection directive is enforceable
across EU countries. In IT and data implementation terms, a two-year
execution period in reality is just around the corner. Data protection
and IT security issues often involve some teams to comply with the
new regulation. IT, marketing, legal and compliance, management, and
business teams will need the roadmap and framework to implement business
change and new IT projects. Therefore, all companies are now preparing
for the practical implementation of the forthcoming EU General Data
to avoid the cyber threats when converging to a holistic IT risk scenario.
Part II of IT Assurance
Management is often overwhelmed when the news of yet another cyber-risk
attack and the data disruption that follows reaches them. As the cybercriminals
get more professional, there seems to be an urgent need for innovative
solutions in the search for the current cyber and data risk controls.
The alarming cost and consequences of any cyber-breach, big or small
are increasing, as the continued business operation is at stake.
Internet Of Things And Big Data Are Two Sides Of The Same Coin
Why is the growth of Big Data and the Internet of Things is accelerating
so fast, Why is it affecting both technology and regulatory issues,
What are the increasing benefits and risks for companies? These and
other related questions will be answered at the 9th annual European
GRC Summit in Stockholm.