In the current business landscape, organizations need to manage risk from an integrated, organizational-wide lens. At the same time, chief audit executives are expected to be more collaborative and efficient in how they manage resources and deliver projects within internal audit (IA). So how do CAEs meet this challenge? Internal Auditās Role in Governance The internal audit function has an opportunity to demonstrate efficient and effective leadership by building agility and real-time awareness of…
Chief compliance officers face immense challenges in addressing the evolving needs and demands of compliance management. Particularly in the financial sector, compliance professionals hold significant responsibility for overseeing policies and processes and maintaining their organization's compliance posture in alignment with stakeholder expectations. In recent years, the discussion around the personal liability of compliance professionals has become increasingly important, as these individuals are potentially exposed to great personal risk in the form of litigation when…
Organizations across the globe have been working to overhaul and augment their IT systems and infrastructure as regulators and governing bodies clamp down on data and cybersecurity. Despite this increased emphasis, many organizations are still failing to recognize and address the weakest links in their cybersecurity framework. IT risk and compliance exposure involves a complex web of vulnerabilities that cross business boundaries, departments, and functions. The impact of a seemingly isolated cyber risk can…
Policies are critical for the overall governance and operations of every organization around the globe. Policies act as a guardrail for employees to act responsibly and ethically within the organizationās best interests. However, poor policy management can leave companies open to risk and non-compliance exposure. It is within corporate policies and policy management that guidelines and parameters are set for appropriate behavior for individual employees and procedures/processes. They are the bedrock of company culture,…
The modern business landscape is dynamic and unpredictable, although we tend to forget that until something jolts us out of our routine. The pace of the world is now at light speed with the changes of globalization, digitalization, risk, competitive velocity, and regulation creating new challenges for organizations every day. Navigating change requires lucid leadership, and it starts from the top. Developing a methodology to continuously understand your organizationās challenges, define those problems, and…