COSO Internal Control, The Basics
COSO is the acronym of the Committee of Sponsoring Organizations of the Treadway Commission, originally established in 1985 to combat corporate fraud, led by James Treadway Jr. The Committee comprised of special-interest organisations in the accounting and auditing industry, including the American Accounting Association; Financial Executives International; the Institute of
Is Your Business Continuity And Response Plan Enough To Keep You Covered
If your answer is Yes, then you’re probably in a minority. Many firms have realised, to their detriment, how woefully unprepared they were in keeping the business running in the face of the pandemic. Most businesses took a hit, and many have shuttered permanently. Others are still struggling, holding on
The Fundamentals of COSO Internal Control
According to COSO, internal control is a process designed to provide reasonable assurance of the effectiveness and efficiency of operations; reliability of financial reporting; and compliance with applicable laws and regulations. These relate to the business’s objectives, performance, profitability and resources; its financial health; and its compliance with the laws
Are You Confident With Your Business Continuity And Response Plan
Properly applied, a business continuity plan does more than keep the firm running in the event of a crisis. Business continuity planning is actually a proactive business process that helps an organisation identify its challenges, weaknesses and threats leading to operational disruptions. Mitigative measures can then be worked out and
BILIF-IERP® Risk Forum: Building A Healthy Risk Culture
It is hard not to think about risk, considering that risk incidents are occurring more often; often inflicting worse consequences than the one before, adding to the challenges of an already volatile, uncertain, complex and ambiguous world. The second presentation of the virtual Risk Forum jointly organised by the International
BILIF-IERP® Risk Forum: Living With The Pandemic
“Prepare to live with the pandemic,” said keynote speaker Dr Anthony Dass, Group Chief Economist, Head of AmBank Research and member of Malaysia’s Economic Action Council Secretariat. “Prepare to digitise.” He was speaking on the second day of the two-day Risk Forum organised by the IERP® and the Brunei Institute