GRC

GRC Tuesdays: Can You Fix a Broken Risk Management Process?

Recently, it seems that every time I visit companies that are in the search phase for a new risk management software solution, they believe their current process is “broken” and needs fixing.

This could be due to many causes: newly appointed Chief Risk Officer (CRO), large loss incurred, recommendations from the audit team or regulatory agencies, and so on. (more…)

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GRC Tuesdays: It’s Time for an Internal Audit Transformation

by Norman D. Marks, CPA, CRMA

Jack Welch, former CEO of GE, is credited with saying that if the rate of change on the outside is greater than the rate of change on the inside, the end is in sight.

Not only is the environment in which our organizations operate changing at an immense speed, but they are changing themselves in response. They are becoming more agile, able to make decisions and adapt faster. (more…)

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GRC Tuesdays: Country Risk and Enterprise Risk Management

In many companies, country risk is treated separately to risks registered in their enterprise risk management (ERM) framework and reported independently to the board – most often by using political risk maps. To me, this is an error because country risk has a direct impact on operational risks. This impact should be materialized so that the correct mitigation strategy can be decided and applied. (more…)

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GRC Tuesdays: Does the Super Bowl Need SOX?

Here we go again. Deflated footballs. A major compliance failure. Management deniability. Mysterious circumstances. Loss of public confidence. Blatant wrongdoing.

A few years ago, the business world addressed this type of problem with the Sarbanes-Oxley Act (SOX) and the rigor of PCAOB Audit Standard 5. (more…)

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2014 – What a Year for GRC at SAP

 Is it 2015 already!?! Wow, how time flies. The SAP governance, risk, and compliance (GRC) team is already off to a fast start for 2015. Given this, I thought I’d use this week’s GRC Tuesday blog to reflect on 2014 as well as look forward into 2015. (more…)

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