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.
Reverse Auctions are a good way to reduce cost and enlarge the vendor universe. You need to take some precaution to safeguard the process. #internalaudit #internalaudit #audit #governance #fraud #compliance #internalcontrol #thirdpartyriskmanagement #lessonslearned #transparency #risk #cae #tools4governance #lessons
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Related Party transactions are one of the grayest areas in corporate governance. Yet they are so prevalent. Legislation and regulators have prescribed ways and means to monitor, regulate, approve related party transaction. One of the core principles of corporate governance is the absence of interested party/parties in the discussions where any decisions regarding related party […]
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Tips for organisation want to implementing a whistle blower system
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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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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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