Instilling good governance and ensuring full compliance with an effective internal control program. Presented at Corruption and Compliance South & South East Asia Summit, September 2012, Hilton Hotel, Singapore.
Fraud on the Rise: How Corporates Can Fight Back (2009)Nasreen Quibria
2009 Association for Financial Professionals Webinar:
Against the backdrop of deteriorating financial conditions, especially in the second half of 2008, a significant number of organizations were subject to payments fraud attempts. Hear the findings of the 2009 AFP Payments Fraud & Control Survey. Learn about real-life fraud attempts, the counter-measures that corporate practitioners are taking, and the diligence that must still be utilized to guard against check, ACH and card payments fraud.
ICQs provide system for the assessment of risks embedded in the internal control system. Every internal auditor prepares ICQs according to his understanding of the internal control system. There are some certain common areas that are present in every organization. This ICQs deal with those common areas that are integral part of every organization's internal control system.
This document outlines the ordering, receiving, and warehousing processes. It discusses key steps like receiving orders, verifying needs before ordering, avoiding duplicate orders, receiving deliveries, documenting received items, updating inventory counts, handling damaged or returned items, and separating duties for accountability. Process improvements, responsibilities, and communications are also addressed.
Internal control is a process designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
Effectiveness and efficiency of operations
Reliability of financial reporting
Compliance with applicable laws and regulations
This presentation examines ICs and their effectiveness.
Internal control is a process designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance. It consists of five components: control environment, risk assessment, control activities, information and communication, and monitoring activities. The components work together to help ensure reliable financial reporting, effective and efficient operations, and compliance with laws and regulations. Internal control is important for both management and external auditors, and while it cannot provide absolute assurance, it helps reduce risks of failure to achieve goals.
internal control and control self assessmentManoj Agarwal
The document discusses internal controls and control self-assessment. It begins with definitions of internal control and internal auditing. It then outlines the COSO internal control framework, including the five components and seventeen underlying principles of internal control. The presentation agenda and a case study are also mentioned. Sample templates for evaluating internal controls against the principles are included.
Effective Internal Controls (Annotated) by @EricPesikEric Pesik
Instilling good governance and ensuring full compliance with an effective internal control program. Presented at Corruption and Compliance South & South East Asia Summit, September 2012, Hilton Hotel, Singapore.
The document defines internal control as a process overseen by a company's board of directors and senior management to reasonably ensure: effective and efficient operations, reliable financial reporting, and compliance with laws and regulations. It then provides 35 questions regarding internal controls for a manufacturing company, including questions about the effectiveness of the system, its ability to prevent fraud, optimization of resource use, accounting procedures, and controls over expenditures, payroll, investments and more. The source is listed as both internet resources and self-composed material.
Fraud on the Rise: How Corporates Can Fight Back (2009)Nasreen Quibria
2009 Association for Financial Professionals Webinar:
Against the backdrop of deteriorating financial conditions, especially in the second half of 2008, a significant number of organizations were subject to payments fraud attempts. Hear the findings of the 2009 AFP Payments Fraud & Control Survey. Learn about real-life fraud attempts, the counter-measures that corporate practitioners are taking, and the diligence that must still be utilized to guard against check, ACH and card payments fraud.
ICQs provide system for the assessment of risks embedded in the internal control system. Every internal auditor prepares ICQs according to his understanding of the internal control system. There are some certain common areas that are present in every organization. This ICQs deal with those common areas that are integral part of every organization's internal control system.
This document outlines the ordering, receiving, and warehousing processes. It discusses key steps like receiving orders, verifying needs before ordering, avoiding duplicate orders, receiving deliveries, documenting received items, updating inventory counts, handling damaged or returned items, and separating duties for accountability. Process improvements, responsibilities, and communications are also addressed.
Internal control is a process designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
Effectiveness and efficiency of operations
Reliability of financial reporting
Compliance with applicable laws and regulations
This presentation examines ICs and their effectiveness.
Internal control is a process designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance. It consists of five components: control environment, risk assessment, control activities, information and communication, and monitoring activities. The components work together to help ensure reliable financial reporting, effective and efficient operations, and compliance with laws and regulations. Internal control is important for both management and external auditors, and while it cannot provide absolute assurance, it helps reduce risks of failure to achieve goals.
internal control and control self assessmentManoj Agarwal
The document discusses internal controls and control self-assessment. It begins with definitions of internal control and internal auditing. It then outlines the COSO internal control framework, including the five components and seventeen underlying principles of internal control. The presentation agenda and a case study are also mentioned. Sample templates for evaluating internal controls against the principles are included.
Effective Internal Controls (Annotated) by @EricPesikEric Pesik
Instilling good governance and ensuring full compliance with an effective internal control program. Presented at Corruption and Compliance South & South East Asia Summit, September 2012, Hilton Hotel, Singapore.
The document defines internal control as a process overseen by a company's board of directors and senior management to reasonably ensure: effective and efficient operations, reliable financial reporting, and compliance with laws and regulations. It then provides 35 questions regarding internal controls for a manufacturing company, including questions about the effectiveness of the system, its ability to prevent fraud, optimization of resource use, accounting procedures, and controls over expenditures, payroll, investments and more. The source is listed as both internet resources and self-composed material.
The document discusses the COSO internal control framework. It provides background on COSO, describing it as a joint initiative to provide guidance on internal controls. The framework was first published in 1992 and provides principles and attributes for internal controls relating to control environment, risk assessment, control activities, information/communication, and monitoring. It discusses changes in the updated framework to make it more relevant to today's business environment. Key changes include clarifying the role of objective setting, reflecting the increased relevance of technology, and enhancing governance concepts.
This document provides an overview of an internal risk assessment process presentation. It outlines the presentation agenda, which includes discussions of internal control frameworks like COSO and COBIT, risk assessment techniques, risk identification mapping, and the components of internal control. It also details the key aspects of each presentation section, such as defining internal control, its objectives, and management and auditor responsibilities regarding internal control assessment.
Internal Control Checklist for Multi Purpose Cooperativejo bitonio
This document outlines the policies and procedures for an organization's human resources, production/operations, marketing, and finance departments. Key points include:
- Educational and experience qualifications are strictly examined in hiring, and regular employee training is provided.
- Orientation is given to new employees, and a personnel handbook outlines responsibilities. Rewards and disciplinary actions are used.
- Products and services satisfy member needs, and competent personnel handle operations. Loan and credit policies are strictly followed.
- A marketing officer is responsible for programs, and feedback ensures member satisfaction. Pricing is competitive and quality is monitored.
- Financial policies require cash handlers to be bonded and use pre-numbered receipts. Checks
Week 7 Procurement (Purchasing, Receiving And Storing) 3 2552Pavit Tansakul
The document discusses procurement in the food and beverage industry. It covers the key steps in procurement: purchasing, receiving, storage, and inventory control. It focuses on purchasing, describing the purchaser's role in being familiar with the market, their own operation, and customers. The marketing channel is discussed, outlining how goods move from producers to processors to distributors and finally to customers. Purchasing specifications and supplier selection are also covered.
The document discusses the COSO internal control framework's principles of monitoring internal controls. It states that monitoring ensures controls continue operating effectively through ongoing or separate evaluations. Planning and organizational support form the foundation for monitoring, including tone from management and the board's understanding of monitoring's importance. Monitoring procedures evaluate important controls over meaningful risks, and assessing results prioritizes and communicates deficiencies for corrective action. Effective monitoring uses a systematic process of identifying risks and determining optimal monitoring approaches.
The document discusses evaluation of purchase management performance. It outlines various quantitative and qualitative metrics that can be used, including price advantage, inventory levels, and relations with suppliers. Internal and external agencies can evaluate performance. Methods include forms, flowcharts, checklists and key performance ratios. A purchase audit examines the organization, policies, procedures, evaluation and reporting of the purchase department.
Internal Control Reviews: Everything you need to knowWelch LLP
This document discusses an internal control review for the public sector presented by Welch LLP. It covers when to consider an internal control review, what to expect from the process, the basic streams or business processes that would be reviewed, and the benefits of conducting such a review. The process involves developing a risk-based strategy, documenting and assessing key financial controls, and drafting a management action plan. Benefits include improving efficiencies at a lower cost than a full audit and gaining a fresh view of the organization's system and environment.
Horizon 2013 P2P Re-imagined: No User Pain, but Real Compliance Gains, A Cas...Zycus
The Mentor Network’s mission is to improve the lives of the people and communities they serve, and when they looked internally at their existing P2P process, they saw their own employees enduring a cumbersome and tedious user experience – or not enduring it and circumventing the system, leading to lower Spend Under Management and lost savings. Learn how Zycus and The Mentor Network are collaborating to re-imagine the next generation of P2P, with an innovation in “Guided Buying,” that reconciles the need for both increased ease-of-use and greater spend and process compliance. We’ll examine the business case and performance benchmarks driving The Mentor Network towards new levels of P2P performance.
Audit reports under cos act 2013 and sa 700 revised april 15Ashok Seth
This document provides an overview of various auditing standards for reporting, including:
- SA 700 (Revised) on forming an opinion and the auditor's report. It discusses requirements for unmodified and modified opinions.
- Illustrative auditor's reports are provided under the Companies Act 2013 financial reporting framework for unmodified opinions with and without internal control reporting, and for qualified, adverse, and disclaimer opinions.
- SA 705 on modifications to the auditor's opinion, including the different types of modifications and their required form and content in the report.
- SA 706 on emphasis of matter and other matter paragraphs that can be included in the auditor's report.
The document discusses the objectives, requirements, and
This session shows how your practice can utilize internal controls to promote efficiencies and effectiveness in the workplace and prevent the susceptibility of fraudulent acts by employees. Learn about the risk factors, vulnerable transactions, methods of detection and prevention as they specifically relate to your practice.
Modus Operandi to improve internal controlsvikas_k
This document outlines steps to improve internal controls for small manufacturing companies, including establishing an organizational chart, determining work scopes and responsibilities, implementing standard operating procedures, planning sales orders, updating order statuses, determining production capacity, evaluating staffing needs, allocating work, coordinating departments, establishing costing and internal audit systems, and implementing an ERP system. The presentation provides details on documenting processes, monitoring adherence to procedures, and continually reviewing and improving internal controls.
This document defines internal controls and outlines their purpose and types. It discusses accounting and administrative controls, characteristics of good internal controls like segregation of duties and documentation, and provides examples of appropriate internal controls for cash, stock, accounts receivable and payable. Finally, it differentiates between an internal auditor, who is an employee that reviews internal controls, and an external auditor, who is an independent contractor regulated by law.
How Secure is your Business? Fraud Risk Analysis and Security Managementwhbrown5
The document discusses fraud risk analysis and security management. It notes some disturbing statistics about occupational fraud from a global fraud study. It then outlines how fraud is typically detected, where tips come from, and common controls used. The presentation aims to help businesses manage risks of loss from fraud and inadequate security. It covers assessing fraud risks, reviewing internal controls, and managing information technology security through regular assessments, purchasing considerations, and effective use of controls.
The document summarizes an internal auditor's workshop on using audits as a risk management tool. It includes the following:
- An overview of the risk management process including identifying risks, assessing and measuring risks, responding to risks, designing and testing controls, and continuously improving risk management.
- The three lines of defense in risk management - operational management owns risk management as the first line, risk management and compliance functions provide oversight as the second line, and internal audit provides independent assurance as the third line.
- Key aspects of the risk management process including governance, people, processes, and technology as well as identifying risks, assessing risks, developing risk response strategies, and monitoring risks.
Nearly three-quarters of the 629 surveyed companies experienced attempted or actual payments fraud in 2008. Checks were the payment method most subject to fraud at 91% and were responsible for the greatest financial losses at 60%. The estimated median value of payments fraud decreased 40% from 2007 to 2008. The most widely used risk mitigation tools for checks were positive pay and reverse positive pay at 82%. For ACH payments, the most used tools were ACH debit blocks at 71% and ACH debit filters at 55%.
Addressing Fraud Risk Management with FactsInfosys BPM
Fraud is identified and caught with the aid of facts. Facts give a deeper understanding to what you could be looking at in your organization. Facts have also given rise to the mnemonic that Fraud is Always Committed by Trusted Souls. As simplistic as it may seem, it holds key to a potential trigger. Are you equipped with the necessary tools to address this challenge? Is your organization equipped with fraud Risk Management? Here are some quick slides to take you through what you need to have.
Fraud Risks In A Challenging Economy Dbb 072811ccasler
The document discusses how challenging economic conditions can increase fraud risks for organizations. It notes that budget cuts have weakened internal controls as employees do more with less. Additionally, the recession has created financial pressures that could motivate fraud. The document provides examples of fraud risks and recommends steps organizations can take to strengthen internal controls and prevent fraud, such as enhancing segregation of duties, management review, and fraud education.
Fraud Risks In A Challenging Economy Dbb 072811Brian_R_DuMond
The document discusses how a challenging economy increases fraud risks for organizations and provides recommendations for strengthening internal controls. It notes that budget cuts have weakened controls, while economic pressures have increased motives for fraud. Recommendations include limiting opportunities through separation of duties, top-level reviews, whistleblower policies, and bank security measures. The document emphasizes that prevention is easier than detection of fraud.
Internal Control Issues in Fraud CasesDecosimoCPAs
The document discusses the COSO internal control framework and its five components for organizational and functional levels. It then examines common internal control weaknesses that can contribute to fraud, examples of internal fraud, and specific factors that allowed fraud to occur in cases of embezzlement, billing fraud, corruption, payroll fraud, and expense reimbursement schemes. Finally, it lists internal controls that were modified or implemented in organizations after fraud was discovered.
The document discusses the COSO internal control framework. It provides background on COSO, describing it as a joint initiative to provide guidance on internal controls. The framework was first published in 1992 and provides principles and attributes for internal controls relating to control environment, risk assessment, control activities, information/communication, and monitoring. It discusses changes in the updated framework to make it more relevant to today's business environment. Key changes include clarifying the role of objective setting, reflecting the increased relevance of technology, and enhancing governance concepts.
This document provides an overview of an internal risk assessment process presentation. It outlines the presentation agenda, which includes discussions of internal control frameworks like COSO and COBIT, risk assessment techniques, risk identification mapping, and the components of internal control. It also details the key aspects of each presentation section, such as defining internal control, its objectives, and management and auditor responsibilities regarding internal control assessment.
Internal Control Checklist for Multi Purpose Cooperativejo bitonio
This document outlines the policies and procedures for an organization's human resources, production/operations, marketing, and finance departments. Key points include:
- Educational and experience qualifications are strictly examined in hiring, and regular employee training is provided.
- Orientation is given to new employees, and a personnel handbook outlines responsibilities. Rewards and disciplinary actions are used.
- Products and services satisfy member needs, and competent personnel handle operations. Loan and credit policies are strictly followed.
- A marketing officer is responsible for programs, and feedback ensures member satisfaction. Pricing is competitive and quality is monitored.
- Financial policies require cash handlers to be bonded and use pre-numbered receipts. Checks
Week 7 Procurement (Purchasing, Receiving And Storing) 3 2552Pavit Tansakul
The document discusses procurement in the food and beverage industry. It covers the key steps in procurement: purchasing, receiving, storage, and inventory control. It focuses on purchasing, describing the purchaser's role in being familiar with the market, their own operation, and customers. The marketing channel is discussed, outlining how goods move from producers to processors to distributors and finally to customers. Purchasing specifications and supplier selection are also covered.
The document discusses the COSO internal control framework's principles of monitoring internal controls. It states that monitoring ensures controls continue operating effectively through ongoing or separate evaluations. Planning and organizational support form the foundation for monitoring, including tone from management and the board's understanding of monitoring's importance. Monitoring procedures evaluate important controls over meaningful risks, and assessing results prioritizes and communicates deficiencies for corrective action. Effective monitoring uses a systematic process of identifying risks and determining optimal monitoring approaches.
The document discusses evaluation of purchase management performance. It outlines various quantitative and qualitative metrics that can be used, including price advantage, inventory levels, and relations with suppliers. Internal and external agencies can evaluate performance. Methods include forms, flowcharts, checklists and key performance ratios. A purchase audit examines the organization, policies, procedures, evaluation and reporting of the purchase department.
Internal Control Reviews: Everything you need to knowWelch LLP
This document discusses an internal control review for the public sector presented by Welch LLP. It covers when to consider an internal control review, what to expect from the process, the basic streams or business processes that would be reviewed, and the benefits of conducting such a review. The process involves developing a risk-based strategy, documenting and assessing key financial controls, and drafting a management action plan. Benefits include improving efficiencies at a lower cost than a full audit and gaining a fresh view of the organization's system and environment.
Horizon 2013 P2P Re-imagined: No User Pain, but Real Compliance Gains, A Cas...Zycus
The Mentor Network’s mission is to improve the lives of the people and communities they serve, and when they looked internally at their existing P2P process, they saw their own employees enduring a cumbersome and tedious user experience – or not enduring it and circumventing the system, leading to lower Spend Under Management and lost savings. Learn how Zycus and The Mentor Network are collaborating to re-imagine the next generation of P2P, with an innovation in “Guided Buying,” that reconciles the need for both increased ease-of-use and greater spend and process compliance. We’ll examine the business case and performance benchmarks driving The Mentor Network towards new levels of P2P performance.
Audit reports under cos act 2013 and sa 700 revised april 15Ashok Seth
This document provides an overview of various auditing standards for reporting, including:
- SA 700 (Revised) on forming an opinion and the auditor's report. It discusses requirements for unmodified and modified opinions.
- Illustrative auditor's reports are provided under the Companies Act 2013 financial reporting framework for unmodified opinions with and without internal control reporting, and for qualified, adverse, and disclaimer opinions.
- SA 705 on modifications to the auditor's opinion, including the different types of modifications and their required form and content in the report.
- SA 706 on emphasis of matter and other matter paragraphs that can be included in the auditor's report.
The document discusses the objectives, requirements, and
This session shows how your practice can utilize internal controls to promote efficiencies and effectiveness in the workplace and prevent the susceptibility of fraudulent acts by employees. Learn about the risk factors, vulnerable transactions, methods of detection and prevention as they specifically relate to your practice.
Modus Operandi to improve internal controlsvikas_k
This document outlines steps to improve internal controls for small manufacturing companies, including establishing an organizational chart, determining work scopes and responsibilities, implementing standard operating procedures, planning sales orders, updating order statuses, determining production capacity, evaluating staffing needs, allocating work, coordinating departments, establishing costing and internal audit systems, and implementing an ERP system. The presentation provides details on documenting processes, monitoring adherence to procedures, and continually reviewing and improving internal controls.
This document defines internal controls and outlines their purpose and types. It discusses accounting and administrative controls, characteristics of good internal controls like segregation of duties and documentation, and provides examples of appropriate internal controls for cash, stock, accounts receivable and payable. Finally, it differentiates between an internal auditor, who is an employee that reviews internal controls, and an external auditor, who is an independent contractor regulated by law.
How Secure is your Business? Fraud Risk Analysis and Security Managementwhbrown5
The document discusses fraud risk analysis and security management. It notes some disturbing statistics about occupational fraud from a global fraud study. It then outlines how fraud is typically detected, where tips come from, and common controls used. The presentation aims to help businesses manage risks of loss from fraud and inadequate security. It covers assessing fraud risks, reviewing internal controls, and managing information technology security through regular assessments, purchasing considerations, and effective use of controls.
The document summarizes an internal auditor's workshop on using audits as a risk management tool. It includes the following:
- An overview of the risk management process including identifying risks, assessing and measuring risks, responding to risks, designing and testing controls, and continuously improving risk management.
- The three lines of defense in risk management - operational management owns risk management as the first line, risk management and compliance functions provide oversight as the second line, and internal audit provides independent assurance as the third line.
- Key aspects of the risk management process including governance, people, processes, and technology as well as identifying risks, assessing risks, developing risk response strategies, and monitoring risks.
Nearly three-quarters of the 629 surveyed companies experienced attempted or actual payments fraud in 2008. Checks were the payment method most subject to fraud at 91% and were responsible for the greatest financial losses at 60%. The estimated median value of payments fraud decreased 40% from 2007 to 2008. The most widely used risk mitigation tools for checks were positive pay and reverse positive pay at 82%. For ACH payments, the most used tools were ACH debit blocks at 71% and ACH debit filters at 55%.
Addressing Fraud Risk Management with FactsInfosys BPM
Fraud is identified and caught with the aid of facts. Facts give a deeper understanding to what you could be looking at in your organization. Facts have also given rise to the mnemonic that Fraud is Always Committed by Trusted Souls. As simplistic as it may seem, it holds key to a potential trigger. Are you equipped with the necessary tools to address this challenge? Is your organization equipped with fraud Risk Management? Here are some quick slides to take you through what you need to have.
Fraud Risks In A Challenging Economy Dbb 072811ccasler
The document discusses how challenging economic conditions can increase fraud risks for organizations. It notes that budget cuts have weakened internal controls as employees do more with less. Additionally, the recession has created financial pressures that could motivate fraud. The document provides examples of fraud risks and recommends steps organizations can take to strengthen internal controls and prevent fraud, such as enhancing segregation of duties, management review, and fraud education.
Fraud Risks In A Challenging Economy Dbb 072811Brian_R_DuMond
The document discusses how a challenging economy increases fraud risks for organizations and provides recommendations for strengthening internal controls. It notes that budget cuts have weakened controls, while economic pressures have increased motives for fraud. Recommendations include limiting opportunities through separation of duties, top-level reviews, whistleblower policies, and bank security measures. The document emphasizes that prevention is easier than detection of fraud.
Internal Control Issues in Fraud CasesDecosimoCPAs
The document discusses the COSO internal control framework and its five components for organizational and functional levels. It then examines common internal control weaknesses that can contribute to fraud, examples of internal fraud, and specific factors that allowed fraud to occur in cases of embezzlement, billing fraud, corruption, payroll fraud, and expense reimbursement schemes. Finally, it lists internal controls that were modified or implemented in organizations after fraud was discovered.
shrinkage: building leadership and taking
action Better leadership in the commercial
and operations teams of retailers
and suppliers reduces shrinkage and
delivers improved sales and shopper
satisfaction. Using case studies and
interactive exercises, this session
reveals the leadership capabilities
required to build and align crossfunctional
teams and focus action.
This will enable attendees to re-apply
practical ideas to deliver significant
and sustainable benefits.
Speakers: John Fonteijn, Royal
Ahold; Colin Peacock, P&G; others
to be confirmed.
Facilitated by Leicester University
and University of Oxford.
The document discusses risk management services provided by BRIDGEi2i Analytics Solutions. It summarizes that the company helps businesses manage various risks proactively to protect profitability rather than reacting to disasters. The services provide insights into risks like credit, market, operational and liquidity risks through analyzing transaction data, customer demographics, portfolio financials and social/web information. This helps businesses optimize portfolios, comply with regulations, detect fraud, improve collections and avoid hazards. The overall goals are increased returns on assets, compliance and brand image.
A Lack of IT Controls= Fraud OpportunitiesWhitleyPenn
The document discusses how a lack of proper IT controls can enable fraud opportunities within an organization. It provides statistics showing that an estimated 5% of revenue is lost to fraud each year, with 1-2% being caused by weaknesses in IT controls. Common anti-fraud controls discussed include segregation of duties, authorization and approval procedures, audit trails, and management oversight. The document also presents several client scenarios highlighting potential control issues and recommendations to address them.
El evento mas importante sobre ecommerce y negocios por internet.
Material de apoyo utilizado por el expositor presente en el eCommerce Latam, el cual es el evento más importantes de América Latina sobre: eCommerce -mCommerce – banca online y emprendedorismo y negocios por internet.
Para mas informacion sobre el evento ingresar en www.colombia.ecommercelatam.com.
Toda la informacion disponible sobre el eLabTour 2010 que se compuso por los 5 eCommerce Day culminando con el eCommerce Latam en www.ecommerceday.org
This document summarizes a presentation on fraud prevention in businesses. It discusses common types of fraud seen in both government and private organizations, including misappropriation of funds, payroll fraud, and fraudulent invoicing. Red flags for potential fraud and the top five fraud risks for small businesses are outlined. The presentation provides advice on conducting risk assessments, implementing strong internal controls like segregation of duties, and steps to take if fraud is discovered within an organization. Speakers from the Orange County government and accounting firm SingerLewak discuss their experiences with fraud cases and the services their organizations provide.
RISKPRO INDIA
• Riskpro is India’s first national practice dedicated to risk management services and training, corporate governance, and global regulatory compliances
• Risk can be defined as a prospect of loss or reduced gain that can adversely affect the achievement of an organisation’s objectives
• When greed overtakes need, it spells trouble. Manifested as ‘bankruptcy’ in much of the developed world and ‘corruption’ closer to home, greed has clearly disrupted some major industrialised economies and enhanced the risks of doing business
• In today’s world, risks are not few. The reason companies so often fail to systematically manage their key risks is rooted in the way they define the risks they face. Risks are manageable and the answer to untapped business opportunities that lie dormant waiting for risk factors to turn favourable
• Riskpro was founded in 2009 with offices in Mumbai, Delhi, and Bangalore and it has already added eight member firms in Ahmedabad, Agra, Chennai, Gurgaon, Hyderabad, Jaipur, Ludhiana, and Pune. All our offices and member firms are well equipped and staffed with qualified professionals viz. CA, CWA, CS, CPA, CIA, CISA, CFA, and MBA
• Riskpro’s founders are qualified risk management specialists with extensive work experience in Europe and USA in several industries and financial institutions
• Riskpro aims to be the preferred service provider for large and medium enterprises on risk protection, corporate governance, and global regulatory issues; delivering state-of-the-art quality and timely services at viable rates
RISKPRO SERVICES
• Our four major practice specialisations /service lines are:
Risk: Enterprise Risk Management (services and training & recruitment)
Governance: Corporate Governance and Transparency
Compliance: Global and Indian Regulatory Compliances
Training: in all of the above service lines
• The Risk Practice deals with all classes of risks and processes viz. governance, strategic, systemic /infrastructure, compliance, reporting, and financial reporting. Processes require that key risks are properly identified, measured, monitored, controlled, and reported. Processes may also require tools like risk based internal audit, information security testing, and fraud investigations, to be employed
• The Governance Practice deals with corporate oversight and risk governance issues within an organization including business continuity planning, compliance with SEBI guidelines by listed companies, regulations relating to independent directors, investor expectation and protection, Clause-49 on corporate governance, etc
• The Compliance Practice covers a wide range of regulatory and environmental compliances including Sox, IFRS, Solvency II, Basel II /III, Corporate Laws & Direct Tax Code etc
• The Training Practice comprises of a variety of structured and /or industry specific training programs and modules designed and conducted by Riskpro experts and trainers at onsite (client or other off
The document discusses anti-money laundering processes and controls. It provides background on money laundering and challenges to detecting it. It then outlines regulatory guidelines for know-your-customer (KYC) and anti-money laundering (AML) processes, as well as process controls, technology controls, and examples of AML alerts focused on monitoring staff accounts and dormant accounts. The goal is to detect suspicious transactions and prevent money laundering.
The document discusses anti-money laundering processes and controls. It provides background on money laundering and challenges to detecting it. It then outlines regulatory guidelines for know-your-customer (KYC) and anti-money laundering (AML) processes, as well as process controls, technology controls, and examples of AML alerts for monitoring staff accounts and dormant accounts. The goal is to establish controls and detection mechanisms to identify suspicious transactions and prevent money laundering.
The document provides an overview of Riskpro, an organization that provides risk management consulting services in India. It discusses Riskpro's mission, value proposition, services, and team experiences. Riskpro's services include advisory services related to Basel II/III, corporate risks, information security, operational risk, governance, and other risks. It aims to provide quality advisory services typically offered by large consulting firms at more affordable rates. The document also includes resumes of some of Riskpro's founders and partners to highlight their qualifications and experiences.
The document summarizes a meeting of the AppFolio team with clients to discuss new and upcoming features of the AppFolio property management software. It highlights payment solutions, insurance services, hidden features, and value added services like professional websites and resident screening. The team reviews customer feedback and usage data to continually improve the software and thanks clients for their participation.
Fraud Prevention, Detection and Investigation in the Payday Advance IndustryDecosimoCPAs
Fraud prevention, detection and investigation in the payday advance industry was discussed including defining fraud and embezzlement, how they occur in the industry, and steps that can be taken to prevent fraud such as implementing policies to segregate duties and conduct regular audits. Common types of fraud like internal and external fraud were described as well as ways fraud can be detected through analytical procedures and interviews. The roles of forensic accountants and methods of investigating probable fraud cases were also outlined.
This document discusses various risks associated with online banking and technology-based banking products and services. It addresses operational risk, credit risk, and reputational risk. Operational risks include internal fraud, external fraud, business disruptions, system failures, and more. Credit risk relates to uncertainty in a counterparty's ability to meet obligations. Reputational risk could result from negative publicity, whether true or not, that leads to loss of customers, revenues, and increased costs. Effective risk management, including risk assessment and mitigation strategies, is important for banks offering online and technology-based services.
Taking a Closer Look - Assessing Risk of Fraud in the Payday Advance IndustryDecosimoCPAs
This document summarizes key findings from a study on occupational fraud. It finds that fraud costs organizations billions annually, with the typical fraud lasting two years. The most common fraud schemes were corruption and fraudulent billing. Tips were the most common detection method, with stronger controls like surprise audits linked to lower losses. High-risk perpetrator profiles included those in accounting, executives, and those living beyond their means. The summary outlines best practices for prevention, detection, and response to fraud.
The presentation covered payment fraud trends and strategies for combating fraud. It discussed how fraud is increasing with the economic downturn and criminals are targeting various payment methods like checks, cards, and electronic payments. The speaker outlined a fraud management framework of prevention, detection, investigation, containment/recovery, and analysis. Statistics showed most organizations experienced fraud attempts in 2008. Common fraud types involved checks, cards, and electronic methods. The presentation provided strategies for organizations to strengthen internal controls and leverage tools from financial institutions to reduce fraud risks and losses across different payment types.
Reviewing Contract Key Terms and ConditionsEric Pesik
This document provides an agenda and resources for a two-day training on reviewing and improving contract terms and conditions. The training will cover topics such as understanding contract language, identifying risks, remedies for breach of contract, risk allocation strategies, and interpreting contracts. It also includes a list of recommended books and articles on contract drafting best practices.
Why fonts matter in 2 slides by @EricPesikEric Pesik
This 2 slide presentation argues that fonts matter and includes images to support its point. The first slide states that the presenter will never let the audience go while including an image of hands holding on. The second slide repeats that the presenter will never let the audience go and features a photo of hands tightly gripping a railing.
The Truth about Tone from the Top by @EricPesikEric Pesik
Are your executives telling the truth when they say "ethics matter"? Senior executives are involved in 53% of bribery cases. And they know about 86% of corporate fraud cases. If management lies about ethics, what message does that send? What is the true "tone from the top"?
Have you ever felt trapped in a bad PowerPoint presentation? Ever listen to a speaker drone on like a zombie? Do boring uninspiring slides leave you feeling like the walking dead? Don’t be a PowerPoint zombie! Here are 6 tips to avoid Death by Powerpoint!
J.P. Morgan and the Princelings of China by @ericpesikEric Pesik
This presentation was originally delivered live on June 9, 2015, by Eric Pesik, at the Legal Risk & Compliance Summit 8 & 9 June 2015, at the InterContinental Hotel in Singapore. I am providing my slides under Creative Commons Attribution license. All images and fan art are based on Harry Potter created by J.K. Rowling and owned by Rowling, her publishers, and Time Warner, the owner of the rights to the Harry Potter films (US copyright law allows for the production, display, and distribution of derivative works if they fall under a fair use exemption, 17 U.S.C. § 107.) This presentation was strongly inspired by the debate between Professors Matthew Stephenson and Andy Spalding chronicled on their blogs at The Global Anticorruption Blog (http://globalanticorruptionblog.com/?s=princeling&submit=Search) and The FCPA Blog
(http://www.fcpablog.com/blog/tag/princelings)
Managing risk from top to bottom by @ericpesikEric Pesik
Managing Risk from the Top to Bottom: How to Safeguard Against Misconduct from C-Suite Level to Regular Employees – and Using HR as a Gatekeeper. Presented at American Conference Institute’s 3rd Asia Pacific Summit on Anti-Corruption, Compliance and Risk Management December 3, 2014, at the Hilton Singapore
US Foreign Corrupt Practices Act and the Economics of Bribery by @EricPesikEric Pesik
This lecture was originally presented October 25, 2014, by Eric Pesik, Adjunct Assistant Professor, University at Buffalo, State University of New York School of Management.
International Executive MBA Program, International Business Law, Politics, & Ethics, Module 13, MGT 612, Intake 18.
Presented at SIM Management House, Singapore Institute of Management, 41 Namly Avenue, Singapore 267616
Do you want to be a billionaire by @EricPesikEric Pesik
Billionaires are members of the most elite group of people in the world. To join the billionaire club, you must be one in three million. The good news is - if you want to join this elite club, its membership is growing. According to the Wealth-X and UBS Billionaire Census 2014, the world’s population of billionaires increased 7% last year to reach a record high of 2,325 billionaires.
Do you have what it takes to become a billionaire?
Top 10 Things People Admit Doing on Conference Calls by @EricPesikEric Pesik
This document lists the top 10 things people admit to doing during conference calls. The most common is doing other work at 63%, followed by sending emails at 55% and eating or making food at 47%. Other activities people engage in include texting, checking social media, going to the restroom, leaving without saying, falling asleep, playing video games, and shopping online. Statistics are provided on the percentage of people who admit to each activity.
25 things NOT to do during Hungry Ghost Festival by @EricPesikEric Pesik
Every year, usually in August, the Chinese in Singapore observe a large-scale tradition of paying respects to the dead. During this month, the "Gates of Hell” are opened and souls of the dead are freed and allowed to roam the earth where they seek food and entertainment.
The 7th month of the Chinese lunar calendar is regarded as the Ghost Month. The 15th day of Ghost Month is Ghost Day, and the Ghost Festival is held the night before - on the evening of the 14th day.
The activities throughout the month include preparing ritualistic food offerings, such as Mandarin oranges, roasted suckling pig, bowls of rice, and local Chinese cake made especially for the occasion. They also burn incense and joss paper to pay respect to the deceased. The festival is so widely-practiced in Singapore that special bins are set up in neighborhoods for believers to burn their joss paper. Small altars can also be seen outside many homes, both on private property and in public housing areas.
On Ghost Day in Singapore and Malaysia, singers and dancers hold concert-like performances known as Getai on temporary stages set up in a residential districts. Everyone is welcome to watch the show as long as you don’t sit at the front row, which is reserved for the spirits.
If you want to experience Ghost Festival without insulting the spirits, this presentation compiles a collection of taboos - 25 things NOT to do during Hungry Ghost Festival.
Asia’s Increased Competitive Landscape - HR Implications on Talent Attraction and Retention, by Eric Pesik. Presented at the Crown Leadership International Group: Compensation and Benefits Asia Congress, March 2014, Orchard Parade Hotel, Singapore: (1) The rise of Asia and the new diversified workforce; (2) Winning Companies: What sets them apart? (3) Performance & Pay: What else is new? (4) Performance & Development: Who is a Talent? (5) From HR Programs to Reality: What makes the difference?
Updated again based on my presentation on the 18th of March 2014 at the American Chamber of Commerce in Singapore. Previously presented at the Compliance Day Event for the Singapore Compliance Workgroup on 27-November 2013; and at the PrimeTime Personal Power Lunch and the CFO Asia Congress. We return to the same three economic questions: Who bribes? How much do they pay? And what value do they get? How can we use the answers to discourage bribery? And while we will never eliminate the motivation for bribery, we may reach the point where bribery is no longer business as usual.
I am sharing my slides under Creative Commons Attribution license. You are free to distribute, remix, tweak, and build upon my work, even commercially, as long as you credit me for the original creation by linking to this Slideshare URL. Each slide contains source attributions and URL; you should obtain the original images and data from the original sources before reusing. You must comply with any applicable license restrictions imposed by the original source.
I had the honor of speaking at the recent PrimeTime Personal Power Lunch at Garibaldi Italian Restaurant & Bar on October 23, 2013. Building on my previous presentations, we discussed the economic of bribery: Who bribes? How much do they pay? What value do they get?
The document discusses methods for analyzing the economics of corruption, specifically who engages in bribery, how much they pay, and what benefits they receive. It describes two main methods: historical analysis of past corruption cases and efficient markets analysis using events like new anti-bribery laws. Historical analysis found the median bribe amount was $1.06 million for low-level officials and $11.43 million for high-level officials. Firms paid an average of 1.94% of the project value as a bribe. Efficient markets analysis of a new UK anti-bribery law in 2009 estimated it caused over $2 trillion in lost market value for affected companies.
Globalization of Ethics and Compliance by @EricPesikEric Pesik
Globalization is not normally associated with ethics. But recent enforcement actions and legislation around the world point to a global ethics convergence. Where did it start? Where are we now? And what’s next for ethics and compliance?
I am sharing my slides from my lecture at the University of Buffalo School of Management Singapore Executive MBA program on September 21, 2013, under Creative Commons Attribution license. You are free to distribute, remix, tweak, and build upon my work, even commercially, as long as you credit me for the original creation by linking to this page URL. Each slide contains source attributions and URL; you should obtain the original images from the original sources before reusing. You must comply with any applicable license restrictions imposed by the original source.
Drafting Game Rules to Minimize LitigationEric Pesik
This document discusses strategies for drafting game rules and contracts to minimize litigation. It recommends focusing on the essential elements of any agreement: the parties, subject matter, time for performance, and price. Drafting should address potential business and legal risks upfront by including provisions for risk mitigation, dispute resolution procedures, and a clear path to resolution before disputes arise. The goal is to establish rules of engagement that keep parties at the negotiating table and avoid entrenched positions.
Fighting Global Corruption by @EricPesikEric Pesik
Fighting global corruption by building sustainable corruption risk assessment process and developing a proactive risk management plan proportional to your organization’s risk exposure. Presented by Eric Pesik at Asia Risk Professionals Congress at the Carlton Hotel, in Singapore, March 2012
Meeting in the Middle: Embracing Negotiation to Protect Business Interests an...Eric Pesik
Meeting in the Middle: Embracing Negotiation to Protect Business Interests and Relationships, by Eric Pesik, presented at Litigation Asia Summit 2012, Singapore
Profiles of Iconic Fashion Personalities.pdfTTop Threads
The fashion industry is dynamic and ever-changing, continuously sculpted by trailblazing visionaries who challenge norms and redefine beauty. This document delves into the profiles of some of the most iconic fashion personalities whose impact has left a lasting impression on the industry. From timeless designers to modern-day influencers, each individual has uniquely woven their thread into the rich fabric of fashion history, contributing to its ongoing evolution.
Starting a business is like embarking on an unpredictable adventure. It’s a journey filled with highs and lows, victories and defeats. But what if I told you that those setbacks and failures could be the very stepping stones that lead you to fortune? Let’s explore how resilience, adaptability, and strategic thinking can transform adversity into opportunity.
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The Genesis of BriansClub.cm Famous Dark WEb PlatformSabaaSudozai
BriansClub.cm, a famous platform on the dark web, has become one of the most infamous carding marketplaces, specializing in the sale of stolen credit card data.
Industrial Tech SW: Category Renewal and CreationChristian Dahlen
Every industrial revolution has created a new set of categories and a new set of players.
Multiple new technologies have emerged, but Samsara and C3.ai are only two companies which have gone public so far.
Manufacturing startups constitute the largest pipeline share of unicorns and IPO candidates in the SF Bay Area, and software startups dominate in Germany.
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The Steadfast and Reliable Bull: Taurus Zodiac Signmy Pandit
Explore the steadfast and reliable nature of the Taurus Zodiac Sign. Discover the personality traits, key dates, and horoscope insights that define the determined and practical Taurus, and learn how their grounded nature makes them the anchor of the zodiac.
The APCO Geopolitical Radar - Q3 2024 The Global Operating Environment for Bu...APCO
The Radar reflects input from APCO’s teams located around the world. It distils a host of interconnected events and trends into insights to inform operational and strategic decisions. Issues covered in this edition include:
Digital Marketing with a Focus on Sustainabilitysssourabhsharma
Digital Marketing best practices including influencer marketing, content creators, and omnichannel marketing for Sustainable Brands at the Sustainable Cosmetics Summit 2024 in New York
HOW TO START UP A COMPANY A STEP-BY-STEP GUIDE.pdf46adnanshahzad
How to Start Up a Company: A Step-by-Step Guide Starting a company is an exciting adventure that combines creativity, strategy, and hard work. It can seem overwhelming at first, but with the right guidance, anyone can transform a great idea into a successful business. Let's dive into how to start up a company, from the initial spark of an idea to securing funding and launching your startup.
Introduction
Have you ever dreamed of turning your innovative idea into a thriving business? Starting a company involves numerous steps and decisions, but don't worry—we're here to help. Whether you're exploring how to start a startup company or wondering how to start up a small business, this guide will walk you through the process, step by step.
[To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
This presentation is a curated compilation of PowerPoint diagrams and templates designed to illustrate 20 different digital transformation frameworks and models. These frameworks are based on recent industry trends and best practices, ensuring that the content remains relevant and up-to-date.
Key highlights include Microsoft's Digital Transformation Framework, which focuses on driving innovation and efficiency, and McKinsey's Ten Guiding Principles, which provide strategic insights for successful digital transformation. Additionally, Forrester's framework emphasizes enhancing customer experiences and modernizing IT infrastructure, while IDC's MaturityScape helps assess and develop organizational digital maturity. MIT's framework explores cutting-edge strategies for achieving digital success.
These materials are perfect for enhancing your business or classroom presentations, offering visual aids to supplement your insights. Please note that while comprehensive, these slides are intended as supplementary resources and may not be complete for standalone instructional purposes.
Frameworks/Models included:
Microsoft’s Digital Transformation Framework
McKinsey’s Ten Guiding Principles of Digital Transformation
Forrester’s Digital Transformation Framework
IDC’s Digital Transformation MaturityScape
MIT’s Digital Transformation Framework
Gartner’s Digital Transformation Framework
Accenture’s Digital Strategy & Enterprise Frameworks
Deloitte’s Digital Industrial Transformation Framework
Capgemini’s Digital Transformation Framework
PwC’s Digital Transformation Framework
Cisco’s Digital Transformation Framework
Cognizant’s Digital Transformation Framework
DXC Technology’s Digital Transformation Framework
The BCG Strategy Palette
McKinsey’s Digital Transformation Framework
Digital Transformation Compass
Four Levels of Digital Maturity
Design Thinking Framework
Business Model Canvas
Customer Journey Map
Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
Introduction
The global retail industry has weathered numerous storms, with the financial crisis of 2008 serving as a poignant reminder of the sector's resilience and adaptability. However, as we navigate the complex landscape of 2024, retailers face a unique set of challenges that demand innovative strategies and a fundamental shift in mindset. This white paper contrasts the impact of the 2008 recession on the retail sector with the current headwinds retailers are grappling with, while offering a comprehensive roadmap for success in this new paradigm.
The Most Inspiring Entrepreneurs to Follow in 2024.pdfthesiliconleaders
In a world where the potential of youth innovation remains vastly untouched, there emerges a guiding light in the form of Norm Goldstein, the Founder and CEO of EduNetwork Partners. His dedication to this cause has earned him recognition as a Congressional Leadership Award recipient.
43. 1. segregation of duties
2. retention of records
3. super vision or monitoring
4. information processing
5. authorization of transactions
6. top-level reviews
7. electronic security
8. physical security
48. High Magnitude High Magnitude
Low Probability High Probability
Magnitude of Loss
Low Magnitude Low Magnitude
Low Probability High Probability
Probability of Risk
risk matrix
59. Sales 21.0%
Operations 15.4%
Accounting 15.1%
Exec/Upper Mgmt 14.0%
Purchasing 10.7%
Warehousing/Inventory 4.0%
Finance 4.0%
Customer Service 3.3%
Marketing/Pub Relations 2.9%
Board of Directors 2.9%
Mfg and Production 2.2%
Human Resources 2.2%
Information Technology 1.5%
Internal Audit 0.4%
Research and Dev 0.4%
Legal 0.0%
probability of the risk
60. Exec/Upper Mgmt $829
Board of Directors $800
Legal $566
Purchasing $500
Finance $450
Marketing/Pub Relations $248
Warehousing/Inventory $239
Human Resources $200
Accounting $180
Mfg and Production $150
Operations $105
Research and Dev $100
Sales $95
Information Technology $71
Customer Service $46
Internal Audit $13
magnitude of the loss
61. Exec/Upper Mgmt 10.0
Accounting 3.5
Purchasing 2.8
Operations 1.7
Finance 1.7
Sales 1.1
Warehousing/Inventory 1.0
Board of Directors 1.0
Marketing/Pub Relations 0.4
Customer Service 0.3
Legal 0.2
Human Resources 0.2
Mfg and Production 0.2
Information Technology 0.2
Research and Dev 0.0
Internal Audit 0.0
adjusted risk profile
76. 1. segregation of duties
2. retention of records
3. super vision or monitoring
4. information processing
5. authorization of transactions
6. top-level reviews
7. electronic security
8. physical security
95. 1. segregation of duties
2. retention of records
3. super vision or monitoring
4. information processing
5. authorization of transactions
6. top-level reviews
7. electronic security
8. physical security
101. License and Credits
This presentation, excluding the images, is provided under creative commons attribution license.
http://creativecommons.org/licenses/by/3.0/
You are free to share, copy, distribute, and transmit this work; to remix, adapt this work; and to make commercial use of the work; under the condition that you attribute
this work to me by including the following attribution “Effective Internal Controls by Eric Pesik. Used with permission,” and URL Link:
http://www.slideshare.net/ericpesik/
Microsoft Office Online:
Except as noted below, all images in this presentation are from Microsoft Office Online. Used with permission from Microsoft:
http://office.microsoft.com/en-us/images/
Flickr Creative Commons:
The following images are from flickr creative commons and are licensed and used under creative commons attribution license:
http://creativecommons.org/licenses/by/2.0/deed.en
Art Coffee House Waitress by Wonderlane
http://www.flickr.com/photos/wonderlane/293137892/
Waitress by Adikos
http://www.flickr.com/photos/adikos/4319818916/
Rutherford Grill by Neeta Lind
http://www.flickr.com/photos/neeta_lind/2517034517/
Serving Food by Adrian Nier
http://www.flickr.com/photos/adriannier/4004167201/
Donut Shop Owner by Robert Couse-Baker
http://www.flickr.com/photos/29233640@N07/7104455917/
Two chorizo burritos with cheese and sour cream by Rick
http://www.flickr.com/photos/spine/1994814081/
Waiter by Hans Van Den Berg
http://www.flickr.com/photos/myimage/4353456304/
Blue Telephone by UggBoy♥UggGirl
http://www.flickr.com/photos/uggboy/5345135964/
Association of Certified Fraud Examiners:
All data is from the Association of Certified Fraud Examiners, Report to the Nations on Occupational Fraud and Abuse, 2010 Global Fraud Study based on 1,843 cases
of occupational fraud that were reported by the Certified Fraud Examiners who investigated them. http://www.acfe.com
Committee on Sponsoring Organizations of the Treadway Commission:
The Internal Control — Integrated Framework was commissioned by the Committee on Sponsoring Organizations of the Treadway Commission. It establishes a common
definition of internal control that services the needs of different parties for assessing and improving their control systems. http://www.coso.org