Posts Tagged ‘corporate governance’
Is This GRC in Our Future?
One of my other favorite blogs about compliance and risk management is the one maintained by ACL, a software vendor that caters to the internal audit industry. Those of you who like to ponder the future of our profession might want to read the most recent post there, “The Maturing World of GRC” by John…
Read MoreTwo Reports CCOs Should Read Right Away
Sometimes useful material floods into the corporate compliance world, and this week is one of those times. We have two new documents worth your consideration: a report from the Society of Corporate Compliance and Ethics; and new guidance on measuring corporate culture from the U.K. Financial Reporting Council. Each one deserves in-depth analysis in its…
Read MoreKeeping Your Audit Committee Current on Risks
I spent a lot of time these days reading audit committee charters, to see how boards address risk management. I’ll be giving a talk on that subject later this year at the Society of Corporate Compliance & Ethics annual conference, and what better way to prepare than to go straight to the raw material? How…
Read MoreMore Clues on Draft ERM Framework
COSO Chairman Robert Hirth visited Boston yesterday, speaking to the CAE Leadership Forum about COSO’s proposed new framework for enterprise risk management. I was lucky enough to attend and Hirth raises some excellent points about how COSO wants to help companies implement ERM, so let me recap the highlights here. First, we mentioned in this…
Read MoreDraft ERM Framework Is Here! How to Get Started
Sharpen your pencils, all enthusiasts of enterprise risk management: COSO has unveiled its new draft framework for ERM and is calling for public comment. The exposure draft is available on the COSO website, and the comment period runs from now until Sept. 30. This is COSO’s first update to the ERM framework, which it originally…
Read MoreImpairment Data Hints at Problems Ahead
You gotta love goodwill. It seems like such a simple concept in financial reporting, yet somehow it can drive corporate accountants, compliance officers, auditors, senior executives, and financial analysts all crazy. For the non-accountants out there (and we’ll explain why goodwill matters to you shortly), goodwill is the value a company assigns to the intangible…
Read MoreHow BP’s Board Undermines Its Drive for Compliance
First let me assure you that today’s post will not be yet another column castigating BP, its board, and its CEO for runaway executive compensation. We could spend lots of time talking to that point, certainly. What happened at BP’s annual shareholder meeting last week was appalling. In 2015 BP racked up the largest loss…
Read MoreWhy Compliance Matters: Credit Suisse Edition
By now you may have already heard that Credit Suisse is cutting another 2,000 jobs from its investment banking operations. That’s unfortunate news for the 2,000 bankers soon to be unemployed, but compliance officers on Wall Street have another lesson to absorb here. The real news for compliance professionals—or anyone else working in finance who…
Read MoreWhy Corporate Culture Is So Maddening a Challenge
I don’t know that corporations will ever “solve” the predicament of building and maintaining an ethical corporate culture—but an excellent new report from the International Corporate Governance Network at least sheds more light on how intractable the problem is. The report summarizes a recent roundtable the ICGN held with the Institute of Business Ethics and…
Read MoreLucrative Trends Only Getting Bigger in Compliance
Last week a mid-career compliance professional, someone with significant experience in the financial regulatory world, dropped me an email to say he is taking an early retirement buyout. So what compliance fields, he asked me, are likely to see healthy career prospects for the next 10 years or so? To my thinking, the trick to…
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