risk management

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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GRC Tuesdays: Detecting Fraud at Speed

by Norman D. Marks, CPA, CRMA

One of the troubling aspects of the recent penetration of the JP Morgan Chase system is that finding out what happened took a long time – months. If an organization wants to minimize potential losses from fraud, it must detect it and respond quickly.

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GRC Tuesdays: Good Use of Collaboration in Risk Management

by Thomas Frenehard, GRC, SAP

I think we’ll all agree: risk management is all about breaking silos. Indeed, an enterprise risk management (ERM) program can only be efficient if it crosses departments and functions.

If only one area of the organization successfully monitors and mitigates its risks, then the program as a whole isn’t effective in protecting the company’s value drivers.

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GRC Tuesdays: Managing at Speed

Norman D. Marks, CPA, CRMA

We all know that the world is spinning faster and faster. Risks and opportunities appear and grow large before changing or disappearing.

This all means that management teams have to adapt and manage at speed. They have to be ready to seize opportunities before they disappear and are taken by competitors. They have to respond promptly when new risks emerge or known risks grow in stature.

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