As Cyber Risks are evolving with greater frequency and severity, Companies are becoming aware that technology-based innovations and initiatives open doors to Cyber Risks and pose greater governance challenges. From a governance perspective, one of the Risk, Compliance and Governance committee’s most important tasks is to verify that management has a clear perspective of how
In less than a week, people around the globe are reading another breaking news around Information Security concerns following the massive breach of Marriott International Inc. As per the news, the UK Parliament seized a set of internal emails of one of the world’s largest Social Media platform Company Facebook as a part of its
The new EU Legislation, General Data Protection Regulation (GDPR) is a latest reform of Data Protection Rules that implies new extensive Data Protection Security and Reporting requirements in addition to increased financial penalties for non-Compliance. Organizations can have strong foundations for successfully achieving GDPR Compliance by acting early and adopting a holistic approach which includes
As Europe’s General Data Protection Regulation came into action from 25th May 2018,a new era in Data Privacy and Information Security begins wherein Companies, Multinationals and Organizations globally are compelled to change how they gather and handle Personal Data of the European Citizens. As per a recent WSJ article, many of these firms aren’t
General Data Protection Regulation (GDPR) comes into effect from May 25 and it’s primary goal is to regulate how Companies protect EU (European Union) citizens’ personal data. The responsibility of complying with the mandate is on Organizations that hold and process this information. With the deadline approaching near, Companies globally are already examining their basis
Maintaining Regulatory Compliance is undoubtedly a priority and continuous concern for Organizations across all Industry Verticals. Looking at the recent news on non-compliance in Companies globally, the stakes involved and the magnitude of consequences,it becomes clear that it’s even more important and challenging to keep pace with the Compliance mandates. Organizations Operate under constant pressure from
For Internal Audit to be more Efficient and Effective, the Board,the C-suite and the Audit Committees need to create the right Strategy which includes proper Positioning, the right Talent and automated Processes. From our previous posts in this exciting Internal Audit Leadership blog series, we identified a number of key attributes that are must haves for
Internal Audit departments are in a transformative phase with increasing expectations to move beyond Compliance and Financial Reporting and focus on Enterprise Risk Assessments, Business and Operational Risks. To meet the requirements of this new role, Internal Auditors need to have specific Skill set which encompasses Communication, Reporting and Planning Skills. When we talk of
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Frauds in big Corporate houses and Organizations have been making headlines since last decade and as you read this, world’s largest bank Wells Fargo has been charged $185 million fine for illegal sales practices that included opening of 2 million fake customer accounts. Following the allegations, the bank fired over 5,300 employees who engaged in