Risk and Control: Ideas for a better tomorrow
A contrarian view on Risk and Control to make tinkle curiosity leading to creative and critical thinking.
As part of Risk Management, organisation are becoming more forceful to have the Right of Audit Clause incorporated into their agreements with Customers, vendors, partners. Why it is important for organization to have the clause incorporated? A. Organization wants vendor to ensure that: No harm is being done to environment while providing goods and services […]
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Loyalty programs are the in thing and almost every organised retailer and large number of service providers runs the program. The intention behind running this program is to provide reasons (being discount, future benefits, exclusivity, part of a fraternity, community, etc) to customer to shop again and again. Besides the usual operational uncertainty regarding .. […]
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Have you included vendor audit/ contract compliance as part of your audit plan? Vendor Risk is becoming a greater concern as organization is outsourcing increasing amount of work. Earlier there used to be a handful of vendors and type of goods and services used to be limited to what an organisation can not do its own. […]
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A researcher had created an app for personality testing, number of people downloaded, due to facebook’s policy at that point of time, researcher was able to download people’s friend data also. It is alleged that based on data collected, people’s psychological profile is created. Using this data people opinion is changed, shifted. What is profiling? […]
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“Audit Committee Members don’t understand the risk. Promoters feel that Audit Committee are too much into finance. The Independent directors forming audit committee are retired person from government or retired partners from professional firms. They think only about finance and missing the bus for emerging risks. They are not geared up for thinking in terms […]
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What is risk appetite? What does it mean? This question has set the ball rolling in an informal group of risk professionals. Everyone has a view on the same. Some views were borrowed from financial industry, some view were created/ adapted for non-financial industries. One of the reason of confusion is analogy of appetite with […]
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