CorporateGovernor is a quarterly newsletter created to keep management, boards of directors and audit committee members abreast of issues that affect the marketplace and their businesses.
Updated COSO Framework (May 2013)
In this special CorporateGovernor article, our Grant Thornton professionals highlight the Framework updates and discuss a strategy for transitioning to the new guidance. The release of the new Framework provides companies with an opportunity to holistically reassess their internal control in all its phases, which should yield not only improvements in efficiency, but reduced costs as well.
Nasdaq proposes listed companies have internal audit function (March 2013)
In March 2013, Nasdaq proposed to adopt a new rule to require that its listed companies establish and maintain an internal audit function. After receiving 38 comments on the proposed rule, the SEC has extended the period for decision action to allow sufficient time to consider the proposal. This extension provides the SEC until June 6, 2013, to make a decision on the proposed rule change.
Our Winter 2013 issue features:
A holistic approach to managing social media risk
Savvy businesses understand that it’s better to embrace than to ignore social media. It offers unique opportunities for brand-building and connecting with customers. At the same time, most organizations struggle with how to respond to the perils social media presents. Bringing together the different areas in an organization is essential to achieving a comprehensive understanding of social media risks.
Managing the complexity of regulatory compliance with a “one-to-many” approach
Compliance continues to be an important consideration in an organization’s overall risk profile. But organizations can plan for compliance mandates so that they’re able to satisfy requirements in a more efficient and economical way and gain greater peace of mind. They can streamline their efforts with a “one-to-many” approach — that is, adopt a mindset and process by which an organization can test once and comply multiple times with various mandates. Having a proactive method helps prepare for whatever regulatory change lies ahead.