In today’s business environment, with a huge amount of financial data being available with the auditors, days of traditional methods can’t serve the business needs. The auditors need to understand more about the client’s business needs. With Data Analytics, auditors can have a deeper understanding of the amount of data available and can highlight high-risk
All compliance practitioners understand the need for risk assessments and do you know if you perform a simple Desktop Risk Assessment annually or more frequently while identifying and evaluating possible mishaps and consequences with a full worldwide risk assessment you ought to be in a sensible position to stay au fait with compliance problems. “If
In today’s globally connected business environment businesses are using Cloud based applications to store their data. But have you ever given a thought how secured that data is? Recent past reveals that data breaches or cyber attacks have cost businesses millions of dollars. Today here in this blog, we will discuss What is Cloud Security?
California Consumer Privacy Act (CCPA), passed in June 2018 will affect majority of the businesses when comes into effect on January 1, 2020. The law dictates that the consumers of California have the right to access any or all the personal data being held by a company and can request the company to get it
The General Data Protection Regulation (GDPR) harmonizes knowledge protection laws within the EU that are fit for purpose in the digital age. It is a game-changing privacy law set out on May 25th, 2018. GDPR imposes new rules on firms, government agencies, non-profits, and other organizations that offer goods and services to people in the
In today’s digital era, Internal Audit Functions worldwide are adopting new technologies and methodologies to bring value to their organizations. Organizations are innovating their Internal Audit processes to future proof themselves, by embracing change and disruption and understand how best to apply new approaches and technologies. Organizations are adopting advanced analytics, artificial intelligence, applying agile
In the globally connected era, Artificial Intelligence and Automation are transforming businesses and will continue to impact the overall growth of the organization by providing value to business and contributing towards the economic growth. AI has penetrated in many organizational processes across different industry verticals. With an analytical approach and greater information processing capacity AI
In today’s evolving business and risk landscape, the board’s need to continuously improve their risk oversight practices and implement an effective and efficient risk oversight function. Board’s need to evaluate which risks are to be on the top of the board agenda and which one is to be delegated to the management team. The Board’s
Dynamic risk assessment is a proactive method of risk management. In the ever-changing and disruptive business environment traditional risk assessment models which are mostly based on the impact and the likelihood. fail to recognize the interconnection among the risks and more effective risk mitigation actions. DRA enables organizations to have a deep understanding of the
When it comes to disruptive risks, the majority of them are foreseeable when there is continuous and effective coordination between Board, C-suite, and management. Conventionally, for risk management, Boards rely on information from management to help identify and provide oversight of disruptive or emerging risks with a significant and critical impact on the company’s long