In an effort to help audit committees make informed decisions, the US Public Company Accounting Oversight Board (PCAOB) released a 26-page report describing how its inspections of audit firms work and how to gather information from audit firms about those inspections.
Internal audit is evolving from a strict compliance function, but its strategic alignment with business strategy has yet to be formalised and documented in many organisations. Here are four steps to develop a formal strategy document for the internal audit function.
Corporate boards can better prepare for their role in enterprise risk management oversight with a framework aimed specifically at them. A framework produced by the Canadian Institute of Chartered Accountants describes a nine-step process for effective board oversight.
Former US Sen. Paul Sarbanes and former US Rep. Michael Oxley say the regulations they sponsored and saw signed into law a decade ago are not perfect, but led to changes in the corporate culture in the United States and abroad.
More scrutiny during audits, transfer-pricing issues and rapid changes in international tax legislation top the list of global tax challenges in a survey of multinational companies. A global consortium of consultants takes a look at the tax issues and offers advice.
How do leading finance chiefs measure and tackle risk within their organisations? We quiz David Horan, CPA, CGMA, the CFO at Dealer Services Corporation; Atul Patel, group FD at IT security firm NCC Group; Jeff van der Eems, COO of United Biscuits; and Jackie Hunt, CFO at Standard Life.
In recent years, according to an International Federation of Accountants (IFAC) report, internal control has come to be viewed as an integral part of risk management and governance rather than a separate concept unto itself.
Management should begin control-related activities before an organisation contracts with a cloud-computing service provider (CSP), according to guidance provided in a recently released thought paper.
Three senior finance professionals talked with CGMA Magazine about what transparency means to them, and how they aim to improve it at their organisations.
Manufacturers are optimistic that they can combine product and process innovation with customer and supplier collaboration to create sustained but modest growth in an uncertain world economy.
Researchers at North Carolina State University and speakers at the AICPA’s CFO Conference explain enterprise risk management and share best practices of how to prepare for risks that can cost you your business.
AÂ rash of recent hacking incidents at high-profile organizations such as Sony Corp. contributed to a big jump in the percentage of large, publicly traded U.S. technology companies citing potential data breaches as a major risk to their businesses, a new BDO report says.
The US asset management industry invested significantly to improve risk management since the 2008 financial crisis, but risk managers still face big challenges.
About half of the most disappointing earnings surprises S&P 500 companies reported in the first quarter were caused by risks that were inherent in the companies’ business model, a first-of-a-kind study suggests.
Common trading myths – rooted in the misconception that offshoring of manufacturing jobs to countries with cheap labour is raising trade deficits in mature economies – can hurt the US and Europe.
Manufacturers face operational and recruiting challenges that are leading to localised supply chains, investment in energy-efficient processes and new-worker training initiatives, according to research by the World Economic Forum.
Although the financial crisis has strengthened the role of corporate treasurers, they face cash management difficulties while using outdated technology and are experiencing difficulty recruiting talented employees, according to a new survey.
The typical business loses 5% of its revenue to fraud, a global Association of Certified Fraud Examiners (ACFE) report estimates. See what sectors are most vulnerable to fraud risk, what types of schemes are most common and most costly, and get tips for detecting and preventing fraud.
Although formal performance measurement and management controls can help not-for-profit organizations (NPOs) thrive in a competitive environment, they must be implemented carefully, a new report jointly sponsored by the AICPA and CIMA shows.
