Tagged: COSO framework

COSO Framework: Breaking Down the Silos and Bringing Everyone Together (Part II of II)

COSO Framework: Breaking Down the Silos and Bringing Everyone Together (Part II of II)

The COSO framework contains important principles for structuring a global organization and its internal controls, including compliance policies and procedures. Compliance officers have to learn and use the COSO framework when communicating and convincing the CFO to embrace a new world with both compliance and financial controls within an effective governance framework. Global companies are recognizing (sometimes slowly) that management silos in a company prevent...

COSO Framework: Fraud, Corruption and Compliance (Part I of II)

COSO Framework: Fraud, Corruption and Compliance (Part I of II)

Global companies need to actively work to prevent fraud and corruption. Fraud and corruption go hand-in-hand. To commit bribery, bad actors have to gain access to money for unauthorized (illegal) purposes. A failure to prevent fraud and corruption can have significant legal, financial and reputational consequences. Luckily, companies are devoting additional resources to assess fraud and bribery risks with specific focus on internal financial and...