risk management

GRC Tuesdays: What About Actionable Risk Reporting?

Have you ever wished that the risk report you just received (at best on a slide deck by e-mail, at worse a printed paper version) was actually actionable so that you could drill-down in it and – even better – that it was always up-to-date so you didn’t have to wonder how many times the data had been “massaged” before it reached you?

Well, good news, this is exactly what SAP Fiori for SAP solutions for GRC does! (more…)

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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: In Risk Management, a Picture Is Worth a Thousand Words

To me, this adage fully applies to risk management where the complex situation and environment of a risk can more easily be grasped visually using dedicated graphical models like the bow tie representation. Indeed, I believe this type of representation can truly ease the risk identification and mitigation phases. Furthermore, with such an easy-to-understand representation, the myth of risk management being a complicated process vanishes and people can focus on the true value of risk management – making decisions. (more…)

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GRC Tuesdays: Drinking Our Own Champagne….

by Jan Gardiner, CPA, GRC Solution Management, SAP

Dog Food or Champagne?

As promised in my last blog “Right Under My Nose,” I wanted to follow up on the other winner of the 2014 GRC Value Award presented by GRC 20/20. In case you didn’t guess, it was none other than SAP!

Before I get to that, have you ever wondered about how the expression “eating our own dog food” began? Or for that matter, how champagne became the substitute for dog food? (more…)

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GRC Tuesdays: Redefining the Role of Internal Audit: Part Two

by Bruce McCuaig, GRC Product Marketing, SAP

In my last blog, Redefining the Role of Internal Audit: Avoiding Redundancy, I outlined the dangers auditors face if they don’t innovate and adapt to today’s technological advances. I also proposed that internal auditors should respond with a paradigm shift—from being in the auditing business to being in the knowledge business.

What would this new role for internal auditors look like? Let me suggest another definition:

The role of Internal Auditors is to create, interpret, and disseminate as widely as possible reliable, fact-based knowledge on the status of risks and controls that impact business performance. (more…)

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