Whitepaper: Internal Audit Risk Assessment – What Are You Missing?

Get your internal audit risk assessment right this year!

accelus2Most companies understand the strategic benefits of an effective system for internal control. In 2013 alone, Thomson Reuters tracked over 26,000 regulatory changes, and with emerging risks on the horizon, many organizations are seeking new perspectives on how to put principles into practice in their complex operations.

As the COSO Internal Control – Integrated Framework (2013) states, “risk assessment involves a dynamic and iterative process for identifying and assessing risks to the achievement of objectives.” Yet many in-house internal audit functions look at the annual internal audit risk assessment process as a check-the-box activity, required mainly to be in compliance with the IIA Professional Practices Framework.

Available for download is a whitepaper which outlines considerations for a successful risk assessment procedure, ‘Risk Assessment: What Are You Missing?’

Read this whitepaper to learn about:

  • Reviewing standard Internal Audit procedures
  • Identifying Internal Audit Risk Assessment Red Flags
  • Taking Five Steps to Turn Risk Assessment Principles into Positive Actions

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Special Report: Corporate Governance – The Asia Pacific View

Results of the Thomson Reuters and EY 2014 Governance Survey

TREY

In April 2014, Thomson Reuters and EY surveyed organizations across the Asia Pacific region to canvas views on the compliance and governance challenges faced by the governance function.

Overall regulatory compliance seems to be the biggest concern for corporate secretarial teams with 64% of respondents considering a regulatory breach the most significant governance risk for their organization. Supporting the executive board and board committees at head office and regional office level is perceived as critical activity. Whilst, the main focus for subsidiary companies is ensuring they meet their statutory compliance requirements. Organizations should consider if appropriate resources are being dedicated to these key activities.

How does your organization compare? Download the report today to find out more and benchmark your organization against your peers.

This report highlights some of the key challenges faced by international organizations, including:

  • Governance responsibility
  • Board reporting and board communications
  • Entity management

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Introducing Accelus World-Check One: A Better Way to Identify Financial Crime & Reputational Risk

cropped-capture-6.jpg“Despite increased investment in AML/CTF systems, the systems in place by many financial institutions fall well below the standard necessary to deal with current or future regulatory demands placed on the industry.”  A. Irwin & R. Choo, The Future of Technology in Customer Identification and Relationship Risk.

Balancing the regulatory and operational burden requires organizations to take a more targeted approach to customer due diligence.  Organizations are having to do more with less.  There is a need for a more efficient approach to the tools, technology and operations that support customer due diligence.

Introducing World-Check One.

World-Check One delivers a more efficient approach, simplifying and accelerating the customer due diligence process.  The highly scalable solution is built for single users or large teams to support a highly targeted approach for screening during KYC on-boarding, ongoing monitoring, and re-screening cycles.  it makes remediation quicker and more intelligent, and is adaptable to meet changes in regulation. World-Check One is part of Accelus, the unified platform built to meet the needs of the governance, risk and compliance community.

FIND OUT

This white paper examines the technological challenges faced by financial institutions in setting up, managing and maintaining an effective Know Your Customer (KYC), Customer Due Diligence (CDD) and Customer Identification Program (CIP); as well as the future of money laundering and terrorist financing risk management with a focus on technologies.

Learn more and read our latest white paper, The Future of Technology in Customer Identification and Relationship Risk, by A. Irwin and R. Choo.

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