June 19, 2013

Risk Assessment Practitioners Offered COSO Perspective

Photo courtesy of ehow.com

by Ben J. Carnevale, Contributing Writer Just recently, the Committee of the Sponsoring Organizations of the Treadway Commission (“COSO”) produced a new “thought paper” on risk management, offering ideas on how companies can better address and implement risk mitigation efforts. The Treadway Commission (… also known as the National commission on Fraudulent Financial Reporting) is a special committee formed in 1985 in the United States to investigate the underlying causes of fraudulent financial reporting. The commission was named after its chairman, former SEC commissioner … [Read more...]

2010 Suggested Audit Guidelines for Internal Control Committees

As many companies finalize their 2009 fiscal year-end reports, and set their budgets, policies and procedures in place for 2010, we would like to focus your attention on a set of suggested guidelines for both internal and external audit committees to review and implement in 2010.  While we can make the assumption that lessons will have been learned from the past year --- it may still be necessary to integrate some of these listed guidelines into your organization’s 2010 strategic goal setting procedures. For 2010, business risk assessment remains high on any organization’s planning … [Read more...]

Impacts of an IT Compliance Audit

One of our often cited reference website blogs is that of SearchCompliance.com.  Recently the topic of IT compliance auditing became a popular area of dialogue in the FAQ section of the SearchCompliance  site.   We have received similar questions from our readers from time to time regarding the topic of auditing and as a result, would like to recommend that your organization's IT department should read this blog posting for some insights into the topic of compliance auditing of IT. Some of the questions addressed in this blog are: (1) What is a compliance audit? (2) How are … [Read more...]

Auditing Business Continuity – Which Framework to Use?

Sooner or later if your organization had a commitment to process improvement, you will need to audit your existing business continuity plans.  As it is a combination of audit and testing that absence a real disaster tells you whether you are on the right track. Performing the Audit When performing your 1st audit, where do you start?  You will need to settle on a framework.  If your plan was initially put together using a framework, that’s great, because that might be the best framework to use.   However, some organizations have additional requirements, they may not expressly be … [Read more...]

 
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