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
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 globally connected business environment enterprises are dealing with vast amounts of unstructured data that is being compounded by the increasing number of ways to share this data. Due to this reason mainly both the employers and employees are failing to either understand or care about their responsibilities when it comes to data protection
In today’s globally connected business environment and the amount of data of that is being shared across the organizations, cybersecurity has become one of the major issues that need to be addressed. With new emerging technologies like Cloud Computing, Internet of Things organizations have become more vulnerable to cyber-attacks. With Cyber attacks becoming more and
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
Adaptive governance is a framework for analyzing and monitoring the financial, social and operational foundations of the multilevel governance models that are successful in building resilience for the challenges posed by the ever-changing risk landscape. When it is possible to have an insight over the disruptive and ever-changing risk landscape, board members can aid in
In the ever-changing and disruptive business era Environmental, social and governance concerns are positioned at the top of the Board’s agenda. These concerns are central in terms of overall business growth and sustainability. To achieve its strategic objectives or goals, the organization’s need to align the ESG concerns and increasing stakeholder’s expectation with Enterprise Risk
Businesses are changing to embrace technological innovations. These rapid innovations are altering the business models and as a result, increasing the organizational risks. The innovations and ever-changing risk universe are challenging internal audit functions to be more relevant and specific. The Internal Audit framework must be able to assess and analyze the big amount of
With the ever-changing and dynamic business environment, there has been no single approach to risk management. The risk management strategies or approach should be rational, to quickly adapt to the ever-changing risk universe. Nature, complexity and constantly changing regulatory regulations in which the businesses operate, increases the importance of adapting and implementing effective risk management
Due to the digitization era, the majority of the companies are moving toward a digital business model, that is generating a vast quantity of data concerning customers. Thereupon proliferation of client data creates valuable opportunities for firms to research and bear on it. However, this can be creating people’s personal lives open and susceptible to