What's the difference between internal and external audit? While the internal and external audit functions are complementary and may need to work closely together, their purposes and areas of focus differ. The Institute of Internal Auditors (IIA) emphasizes that the two functions do not compete or conflict; rather, they both contribute to effective governance. Internal auditors take a holistic view of their organizationâs governance, risk, and control systems (in other words, primarily non-financial information),…
Check out Quantivateâs most recent resources â Youâll find industry insights and learning resources for your governance, risk, and compliance (GRC) program, covering topics including compliance management and vendor risk: Cracking the Compliance Code In this guide to compliance technology, explore results from a multi-industry survey that asked chief compliance officers about their compliance practices and challenges. Plus, get insights on the benefits of automating and integrating compliance management. Download the guide â [fruitful_sep…
Mark your calendars for these upcoming risk and compliance management conferences and seminars. Make sure to stop by Quantivateâs booth and say hello! (more…)
Survey Says Compliance Technology a âNecessary Investment,â But Underutilized As organizations navigate a complex regulatory landscape, an effective compliance program is a must for keeping up with regulatory change and meeting compliance requirements. However, many organizations lag behind in leveraging compliance technology to meet those goals. A compliance report conducted by KPMG surveyed chief compliance officers (CCOs) across multiple industries to benchmark compliance activities. The research found technology and data analytics…
Why is due diligence important? Businesses of all sizes are increasingly relying on vendors to provide critical products and services. However, outsourcing operations to third parties can pose significant risks, compounded by the fact that many organizations struggle to establish an effective due diligence review process that increases oversight and reduces risk exposure. In its guide for managing third-party risk, the FDIC defines comprehensive due diligence as âa review of all available information about…