Nancy Hala, KnowledgeLeader contributing writer
Under federal law, virtually every securities firm conducting business within the United States is a member of NASD, a private, not-for-profit organization. In this profile, Daniel Shook, senior vice president of internal audit, and Mike Hourigan, vice president and assistant general auditor, discuss the organization’s in-house audit management system, NAMIS, and the group’s risk-based audit approach. In addition, Shook and Hourigan explain NASD’s voluntary implementation of SOX compliance, one of the first non-profits to do so.