Publications

November 28, 2011
Avoiding Buyer’s Remorse with AML Monitoring Software
A well-designed transaction monitoring program is an important pillar of a strong anti-money laundering (AML) compliance program. This white paper examines the consequences of implementing inadequate AML transaction monitoring programs and some of the common myths about monitoring systems. Also discussed are factors management should consider before implementing a monitoring system and issues critical to a successful implementation. The paper then addresses post-implementation steps for maintaining the AML transaction monitoring system to ensure it remains efficient and effective.
CONTENT AREA: Articles
TOPICS: Financial Services Industry, IT Controls, Ethics, Fraud

November 28, 2011
Complementary Roles: Audit and ERM at Hydro One
Hydro One Inc., owned by the province of Ontario, Canada, is strongly influenced by government policy; yet it is operated like a public company with substantial bonds rated by rating agencies and requirements to file public documents. In this profile, John Fraser, Senior Vice President of Internal Audit and Chief Risk Officer for Hydro One, talks about the internal audit team’s mandate to audit the high-risk areas of Hydro One’s group of companies.
CONTENT AREA: Performer Profiles
TOPICS: Canada, Enterprise Risk Management, Energy & Utilities Industry, Government, Internal Audit

November 28, 2011
Poll: IA and ERM Management
This week’s poll question asks, "How does your organization manage Internal Audit (IA) and Enterprise Risk Management (ERM) functions?"
CONTENT AREA: Polls
TOPICS: Canada, Enterprise Risk Management, Energy & Utilities Industry, Government, Internal Audit

November 21, 2011
Poll: High Impact Presentations
This week’s poll question asks, "When you prepare for a presentation, which of the following is most helpful in conquering the butterflies in your stomach?"
CONTENT AREA: Polls
TOPICS: Human Resources, Audit Committee & Board, Internal Audit Administration, Training & Development

November 21, 2011
Techniques for Developing High-Impact Presentations
Although accomplished speakers make it look easy and effortless, the ability to present is a skill that requires a great deal of preparation and practice. Therefore, if you really want to become a more proficient speaker, seek every opportunity you can to make a presentation. This article provides tips and techniques.
CONTENT AREA: Articles
TOPICS: Internal Audit Administration, Training & Development

November 21, 2011
The Netherlands (NL) and the EU Data Protection Directives
This section of "The Global Privacy and Information Security Landscape: Frequently Asked Questions" focuses on the Netherlands and European Union. Topics covered include: Which authority in the Netherlands is responsible for data protection pursuant to the General DP Directive? When is the transfer of personal data to third countries (within and outside the EU) permitted? And, how can a data processor determine if it is exempt?
CONTENT AREA: Questions & Answers
TOPICS: European Union, Security, Security Management Practices, Laws & Regulations, Privacy

November 21, 2011
The Reasonable Person: Internal Audit’s Role in Internal Probes
Sometimes the best response to an allegation of misconduct is to commission an external investigation—but in many cases, an internal investigation will do just as well. How can you assure objectivity and independence in those cases? Compliance Week Columnist José Tabuena explores internal audit's role in serving as the "reasonable person" whose expectations are what counts in court.
CONTENT AREA: Articles
TOPICS: Internal Audit, Investigations/Forensics, Ethics, Fraud

November 14, 2011
A Profile of Software Industry Risk
The software business has long been one of the leading and most innovative industries in the United States. What began in the late 1950s as a highly specialized technology business servicing a small number of customers that owned large mainframe computers has proliferated to become an industry where software is embedded in nearly everything, from computers and medical equipment to mobile phones and home appliances. This article will discuss the current state and the risk profile of the software industry.
CONTENT AREA: Articles
TOPICS: Enterprise Risk Management, Information Technology Risk, Software, Strategic Risk, Technology Industry

November 14, 2011
Behind the Renewed Focus on Mandatory Auditor Rotation
The PCAOB has recently begun assessing the potential benefits, costs and unintended consequences of requiring periodic rotation of auditors by SEC registrants. Advocates of term limits believe rotation could address the conflict of the auditor being paid by the auditee, but the potential for additional costs and disruption to companies are also important factors. Inside, Columnist Robert Herz assesses both sides of the issue.
CONTENT AREA: Articles
TOPICS: External Auditor, PCAOB, Section 404-Internal Control Reporting, Laws & Regulations

November 14, 2011
Organizational Balance
Organizational balance is an essential requirement for successful risk management. The degree of tension between business units and risk managers should be appropriate to manage the risk successfully. The prospective requirement in the United States for independent board-level risk committees may support improvement in this area at the very top of major financial institutions.
CONTENT AREA: Articles
TOPICS: Audit Committee & Board, Enterprise Risk Management, Risk Assessment, Strategic Risk, Performance Management/Measurement, Segregation of Duties, Self-Assessment