It’s a popular reality TV show format: contestants are stranded together—perhaps on a remote desert island, for example—to compete in a variety of challenges to try and win things like rewards, immunity, and a large cash prize. This is, of course, while all at the risk of being eliminated at any stage in the game. Popular reality competition TV shows like this offer a compelling ...
Supply chain partnerships link businesses together as one and can play a pivotal role in a company's success. How well a company performs often lies in the strength of its connections. There is an increased market focus on supply chain partnerships. These wide-ranging relationships encompass everything from sourcing materials to delivering final products. The Renewed Focus on Supply Chains Several factors have driven businesses to ...
Company policies are more than just guidelines. They form the very fabric that binds an organization together. They delineate expectations, outline procedures, and ensure every stakeholder is on the same page. However, despite company policies’ pivotal role in the smooth running of a business, oftentimes, these policies remain static, trapped in a time warp of sorts, untouched and unreviewed for extended periods. For example, if ...
Audit, risk, and compliance. Frequently seen as the three pillars of governance, they create a resilient framework to safeguard companies. Let’s dig deeper: Auditing involves the evaluation of financial records, controls, and processes to verify accurate and compliant financial statements and deliver transparency to stakeholders. It offers investors and regulators a comprehensive perspective on an organization's financial well-being. Risk management involves recognizing, assessing, and mitigating potential threats ...
October is recognized globally as Cybersecurity Awareness Month to spotlight the importance of cybersecurity and the role each individual plays in safeguarding digital assets. SAI360 participates in Cybersecurity Awareness Month by highlighting for employees and customers the need for continuous learning in the realm of cybersecurity. The Integral Role of Learning in Cybersecurity As cyber threats become more sophisticated, the need for up-to-date knowledge and ...
Whether in cooperation with sales, purchasing and employees or in the implementation of laws and guidelines – compliance faces extensive challenges and all too often has to move mountains in day-to-day operations. "Do it!" is therefore the motto of the 11th Bundeskongress Compliance in Berlin on 14 & 15 November 2023. Over the course of two days, participants will join experienced experts in discussions about ...
It was a dark and stormy night. A Canadian electricity transmission company lost $24 million by bidding on unnecessary transmission routes. The reason? A simple spreadsheet error as a result of a copy-and-paste Excel mishap. Want another scary tale? You can still hear the screams from a large U.S. manufacturer who realized a spreadsheet typo led to a $11 million severance overpayment. The Frightening Reality ...
The United Kingdom (UK) boasts one of the globe's most expansive and dynamic economies, rendering it an alluring destination for international enterprises. Yet, this very openness also exposes the UK to the peril of unscrupulous individuals exploiting the system through illicit activities like money laundering that drive international corruption, at scale. Fraud--the most common UK offense—amounts to 40 percent of offenses in England and Wales. As reported by the BBC, the UK loses ...
Happy Compliance Officer Day. Over the last several decades, the role of compliance officer has transitioned from being a helpful addition to a crucial necessity. U.S. corporations first began establishing compliance programs in the 1970s and 1980s due to legislative incentives like the Occupational Safety and Health Act. The 1990s saw the role of compliance officers gain prominence due to high-profile corporate scandals, leading to ...
Risk management is at the heart of Governance, Risk, and Compliance (GRC). In our rapidly changing business world, GRC principles are more crucial than ever. They act as the bedrock for regulatory compliance, information security, and third-party relationships, ensuring businesses navigate the complexities and uncertainties of the modern era. On that note, below we offer a summary of SAI360’s webinar, The ABCs of GRC Software: Where to ...
