Our friends over at Thomposon Reuters/Paisley have a new survey out with Compliance Week that makes for some very interesting reading about just how far executives are taking their GRC initiatives (hint: not as far as you’d think).
The survey, which asked 386 compliance, risk, and audit executives how [...]
Long-time visitors to the Audit Trail know that we’ve been talking for some time about Continuous Controls Monitoring and the business benefits that come from the visibility it provides into business operations. It’s practically old hat by now, right?
But elsewhere, CCM is just taking hold as a concept (and [...]
In addition to apple cider, turkeys and holidays, this time of year also marks the beginning of the “year in review” and “year ahead” article season. Louis Thompson, over at Compliance Week get us kicked off this week with his column on what lies ahead for the 2010 proxy [...]
Last time we wrote, we focused on the rapidly growing interest among risk management and compliance folk in the power of Continuous Controls Monitoring (CCM) to drive business performance. A season later, and we’re still hearing a great deal on the potential that CCM holds for transforming businesses, especially as [...]
People vote with their feet. So it’s always interesting to see where people head when a conference breaks from the plenary session. At the Gartner Risk Management & Compliance Summit earlier this month there was a clear winner. Gartner VP and Distinguished Analyst Paul Proctor’s session — “5 Practical Tips [...]
Our friends at Protiviti recently issued their “2009 Internal Audit Capabilities and Needs Survey.” It makes for interesting reading. A couple of key conclusions jump off of the page. First, it’s clear that internal audit groups see continuous controls monitoring (CCM) as the next wave that’s going to impact [...]
Approva today released the latest version of its BizRights® Platform and Controls Intelligence Suite Version 4.5 to help companies gain a 360 degree visibility of key controls at the transaction level. Audit Trail (AT) sat down with Kendra Ferraro, Approva’s Senior Product Marketing Manager to understand how companies can [...]
Audit Trail will launch a week long data privacy awareness campaign starting on Jan 28th, to celebrate International Data Privacy Day. We will be joining an array of corporations, government officials and academics across the US, Canada and twenty seven European countries in celebrating this event that promotes awareness [...]
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While financial pundits are debating what consequences Mary Shapiro’s appointment as the new SEC chief will have on corporate America, Audit Trail sat down with two financial experts to get their take on what to expect once Shapiro takes charge. Will she be spending most of her time re-establishing the [...]
Purchase cards or P-cards have become the new currency that more and more companies are using these days to make payments on a global scale. And why not? According to our friends at RPMG Research Corporation, the average administrative cost (sourcing, purchasing and payment activities) of a traditional Purchase [...]
We’re the first to admit that we can get a little giddy about controls, so today was practically an early holiday for us, as the Gray Lady featured quite a story on the push from GAO auditors to get the Treasury Department to develop and institute internal controls to [...]
It’s been almost a whole week since we wrote about IFRS, so today we bring you a round-up of the very latest discussion, starting with news from Marketwatch about an upcoming summit on IFRS at which bigshots from organizations including Microsoft will gather to discuss implementation plans.
Meanwhile, Financial [...]
Make 2009 the year of increased operational efficiency and reduced risk for your company. Take the 2009 Approva Controls Intelligence Survey to gauge if your company’s enterprise risk management strategy is on par with industry standards.
Click here to take the 5-min survey.
Vist us at www.approva.net/audittrail to get [...]
It looks as if our steadfast resistance to the R-Word has all been for naught, amid word today from the National Bureau of Economic Research that the U.S. has been in a recession since December of last year.
It’s official, at least. We’ll take that to [...]
Remember how we just blogged about all the work going into preparations for the transition to IFRS? Well, we probably should’ve mentioned that while advice is plentiful and accounting programs are definitely gearing up, the prep isn’t as widespread as it probably could or should be. Financial Week is [...]
How’d it get to be November already? Time flies when you live in interesting times, we guess. As America shops for groceries, contemplates turkey and hits the road, let’s not lose sight of other important preparations underway. Not holiday preparation this time — IFRS adoption prep, as accounting [...]
Quite a week for the SEC. In between estimating IFRS adoption costs ($32 million! Wow. Check out the pushback), laying out a roadmap for the transition, and finding time in all the hubub to charge Dallas Mavericks owner Mark Cuban with insider trading, should we be [...]
Happy Monday, everybody. Have you been reading the lively debate between Risktical Ramblings’s Chris Hayes and Stuart King (whose risk management blog is at computerweekly.com)? It seems Stuart believes Chris’s strategies for risk assessment are impractical. Chris, in a response, takes a stab at explaining how he [...]
As most of our readers know, there’s been a ton of back and forth on fair value, particularly in light of transitions from GAAP to IFRS and in the wake of the financial crisis. So we’d forgive you for wanting to skim this next bit, but you’d miss late-breaking [...]
What a difference a day makes. America will soon have a new President, to whom we offer our congratulations. Washington has begun preparations for the inauguration with all the pomp and circumstance that accompanies the country’s transition of power, and Americans across the land wait breathlessly for the latest on [...]
With all the focus on portfolios and the bailout and credit issues and so on, it’s taken some time to take stock of farther-reaching effects on our financial system. Like, for instance, what this is going to mean for the coming move to international accounting standards. This piece from [...]
Happy Monday, everyone. For those of you who just can’t get enough of news and analysis of the financial crisis, some fun little nuggets to start your week off right. First up, another one-hour show from the folks at This American Life and NPR — creatively billed as another [...]
Faithful readers know that we at Audit Trail are fascinated by the complex web of regulations that companies are now responsible for – both to maintain compliance with legal requirements and to safeguard their businesses and reduce risk. SOX was the first real introduction for many to the wonderful world [...]
Happy Wednesday, everyone. Lots of interesting reading up these days, starting with Compliance Week’s take on Treasury’s new provisions on exec comp for companies participating in assistance under the Emergency Economic Stabilization Act. Some folks say they provisions lack teeth to do much — Proxyland says Paulson’s mean [...]
We at Approva have exciting news to share this week: John Becker has joined Approva as CEO, bringing more than 25 years of technology industry expertise to lead the next phase of Approva’s growth. Mr. Becker will also join Approva’s Board of Directors. PV Boccasam, who founded Approva and has [...]
November’s shaping up to be an exciting month. In between electing a new President and giving thanks with family and friends, is one of the highlights of our year – Rutgers University’s World Continuous Auditing and Reporting Symposium taking place in New Jersey from Nov 7-9th. Approva’s very own [...]
Fierce Sarbox has an interesting piece up on questions to ask your auditor (based on a Philadelphia Business Times article) — among them,
> What are my peers doing to make sure they are in compliance?
> Based on the work you’ve done for me, are there any [...]
As we’ve said before, the transactions that power businesses are inherently risky. From the chance that payroll might issue a check to former employee to the risks of billing schemes, asset appropriation, and requests for reimbursement nonexistent travel and entertainment expenses, risk lies within even the most mundane of [...]
It’s not every day the dismal scientists make news, so they must be in shock from all the attention they’re getting lately. Each Presidential campaign’s got an economic team of advisors cranking away at ideas for handling The Mess We’re In, and there’s no shortage of commentary on the [...]
Last month, I had the privilege of attending Audit World in Boston with our CEO, PV Boccasam who presented best practices in implementing controls intelligence solutions. The event featured case studies on audit best practices from more than 50 prominent companies – including some of Approva’s own customers. [...]
So. Another day, another “Whee! Wait, we mean, wah!” day on Wall Street. It’s only been a week since the President signed the Bailout Bill into law in an attempt to inject some confidence (along with $700 billion) into the market and um . . . yeah.
Speaking of [...]
You don’t have to be paying rapt attention lately to tell that we at Approva are awfully excited about the launch of Certification Manager, which helps companies to manage complex user access issues in multiple environments. Early last week we featured a rundown from our Chief Technology Officer, [...]
So, yeah . . . an inauspicious start to another sure-to-be-interesting week on Wall Street. We’re getting really used to hearing the sad music lately at Marketplace.
The upside is that there’s a lot of good reading out there on just what’s going on, from Jim Peterson’s [...]
As Steve Elliott mentioned earlier this week, we at Approva are excited about the launch of Certification Manager – a solution that automates the process of reviewing users and roles across ERPs and other sensitive applications. Steve did a great job talking about the technology behind Certification Manager and [...]
We are very proud to be officially launching Certification Manager, which automates the end-to-end process for reviewing existing controls across ERP systems and other sensitive applications. We designed Certification Manager to make periodic reviews of controls a straightforward exercise by automating the review [...]
Whew, we thought last week was um, interesting, but this week is giving it a run for the money. Lots of word yesterday on a supposed deal between Congress and the White House on a revised version of a bailout bill, only to hear last night that talks have [...]
Hoo boy. The highs and lows on this latest Wall Street roller coaster keep on coming, and there seems to be a good bit of debate about just what it’s going to take to get us out of this mess.
There are some pretty heated discussions raging on [...]
The Association of Certified Fraud Examiners (ACFE) estimates that fraud equates to 5-6% of revenues for most companies. And in some cases, fraud has even led to the total collapse of highly respected organizations. Do Enron or Société Générale ring a bell?
While we may be talking about fraud differently, sometimes [...]
The hits just keep on coming. A rocky weekend on Wall Street with Lehman’s demise and BofA looking to buy Merrill has many folks talking about the ramifications today. WSJ’s blog, “Deal Journal,” has a checklist of the winners and losers of the latest shake up here. CFO [...]
Oh, you thought we meant the election? No*, we’re talking about the OTHER big thing happening in November — the IFRS Convergence Congress for the Bio/Pharmaceutical Industry. Approva Advisory Board Member Michael Cangemi is going to be giving the keynote address, speaking about IFRS in the U.S. Market – [...]
Looks like we aren’t the only ones reminding folks that IFRS-day will be here before you know it. Our friends at KPMG and their IFRS institute have been talking to Compliance Week about this very thing, pointing out that companies don’t have as much time as it may [...]
So, it’s not exactly looming yet, but according to the roadmap the SEC set out last week, some large companies will be moving from GAAP to IFRS as early as 2010. That’s far from immediate, but WebCPA makes an interesting point today about preparing accountants for the change. [...]
