We have written about the importance of having the right culture before, and so have other prominent publications like Quartz. Culture is often found to be a major factor in scandals related to risk, compliance and accounting. Just look at this list from Forbes of the biggest corporate scandals in 2015 and note how often culture is mentioned as one of […]
GRC implementations increase compliance levels, lower risks, and make businesses more effective. While it is easy to see that GRC software has brought improvements to the way the business operates, assessing the benefits in an objective, quantified manner often remains an elusive goal. That is why it is important to create metrics that can […]
Quantitative risk analysis (also referred to as assessment) has been an important tool in the financial industry for a long time. In quantitative risk assessment all the risks are quantified, as the name suggests, which makes the risk management process more objective and manageable.
While assessing risks quantitatively is common in the financial industry, other […]
Creating a risk management plan for business continuity is necessary to ensure that management is making the right decision. Often there are business plans that seem like a fantastic idea but during execution unexpected problems occur which end up damaging the future of the business. Large organizations have dedicated risk personnel whose sole focus […]
Regulatory reporting is supposed to be the tool that helps governments ensure that the financial sector performs smoothly and does not cause any cascading problems. Even though there are extensive regulatory reporting requirements they often fail to achieve this objective, as evidenced by the recent financial crisis the world went through. What can we […]
Compliance is a core component of all organizations regardless of their size. There is, however, a major difference in how compliance affects small businesses and how it affects large businesses. There is a huge imbalance in the resources available to these organizations. Large organizations can spend hundreds of thousands of dollars on compliance every […]