BF_GRC FINANCE LINK Penton Media September 16, 2009 If you want to view this on the web go to: http://enews.penton.com/enews/businessfinance/v/219 ---------------------------------------- ADVERTISEMENT Hear Robert Kaplan Discuss Strategy for Measurable Benefits The 6th Annual BPM Summit, Generating Value Through Visibility, brought together some of the business world's foremost practitioners to explore the transformational role of finance in the enterprise. If you missed the live event, you can still enjoy unlimited access to the audio and slide shows from the keynote speaker presentations at our on-demand archive. http://bpmmag.net/summit/2008/ ---------------------------------------- TODAY'S ALERTS --SAP's GRC Program: Practicing What They Preach SAP is using its globally centralized governance, risk, and compliance program to bring greater effectiveness and efficiency to its GRC processes. To view the full article go to: http://businessfinancemag.com/article/saps-grc-program-practicing-what-they-preach-0916 --5 Reasons for the Financial Reform Slowdown What happened to all of the regulatory reform activity that was streaming down the pike late last year? It is "losing steam," notes Princeton economics professor Alan Binder. He identified five reasons why the "pulse of reform is so faint." To view the full article go to: http://bigfatfinanceblog.com/2009/09/08/what-ever-happened-to-regulatory-reform/ ---------------------------------------- ADVERTISEMENT For the latest partner resources, please view the web version of the newsletter or visit businessfinancemag.com ---------------------------------------- --GRC Talent: Newbies Need Not Apply? Companies want their GRC staffers to be able to effectively communicate with executives who sit on internal risk committees and to possess deep knowledge of at least one business area of the organization, which typically requires years of experience. Where does that leave greener employees looking to get in on GRC? To view the full article go to: http://bigfatfinanceblog.com/2009/09/10/grc-talent-newbies-need-not-apply/ --BNY Mellon Sets Risk Committee Example Only a small portion of Fortune 1000 company boards operate separate risk committees, but all could benefit from this extra oversight. Companies interested in starting a board-level risk committee should take a look at the Bank of New York Mellon Corporation's charter, which provides a clear outline of the group's purpose. To view the full article go to: http://bigfatfinanceblog.com/2009/09/03/board-level-risk-committees-not-yet/ --Social Media's Hidden Reputational Expense Deloitte Chairman of the Board Sharon Allen discusses the results of the third annual Ethics & Workplace survey that she commissioned to examine the reputational risk associated with employees' use of social networks. To view the full article go to: http://bigfatfinanceblog.com/2009/08/17/the-great-divide-social-media-in-todays-workplace/ --U.S. Regulatory Reform Redefined Not so long ago, the term "regulatory reform" was a broad one -- it referred to rules and principles that applied to all industries. Today, in the still-simmering wake of the financial crisis, the definition of "regulatory reform" in the United States has narrowed. To view the full article go to: http://bigfatfinanceblog.com/2009/09/14/us-regulatory-reform-redefined/ --Foreign Corrupt Practices Act: Get to Know It Foreign Corrupt Practices Act (FCPA) enforcement efforts have quietly grown more aggressive. The latest sign that FCPA compliance should be a top governance, risk, and compliance priority for many companies came this summer when the SEC showed its willingness to dig into Brazilian regulatory matters while investigating Utah-based Nature's Sunshine Products. To view the full article go to: http://bigfatfinanceblog.com/2009/08/31/fcpa-get-to-know-it/ --Risk Committees a Key Ingredient to GRC Success Risk committees -- cross-functional groups of operational and functional managers -- are a key component of governance, risk, and compliance success, according to GRC practitioners. To view the full article go to: http://bigfatfinanceblog.com/2009/08/10/pssst-have-any-grc-secrets/ --More Boards Need to Connect with Social Networking Online social networks, which provide a new way for people to connect and communicate, can put a company's reputation at risk. This year Deloitte's annual Ethics & Workplace Survey, which focused on the GRC-related effects of social networking, found that 58 percent of executives agree that reputational risk and social networking should be a boardroom issue, but only 15 percent of respondents say it actually is. To view the full article go to: http://bigfatfinanceblog.com/2009/08/14/more-boards-need-to-connect-with-social-networking/ --Manage Virtualization to Reduce Compliance Risk Companies large and small are racing to virtualize their servers, storage, desktops, and networks in an effort to simplify and consolidate, mainly for the purpose of saving money. However, as organizations expand their virtualization efforts, these environments pose significant management risks. To view the full article go to: http://bigfatfinanceblog.com/2009/08/07/manage-virtualization-to-reduce-compliance-risk/ --GRC Needs Improvement Following Sarbanes, companies needed a more disciplined, efficient, effective and, in most cases, a more centralized approach to managing their risk functions. The need still exists today: half of respondents to an Ernst & Young risk survey acknowledged that there are gaps in their organization's risk coverage and sixty-seven percent report that they have overlapping coverage among two or more risk functions. To view the full article go to: http://bigfatfinanceblog.com/2009/08/24/grc-needs-improvement/ --A Growing Demand for FCPA Awareness and Compliance A new PricewaterhouseCoopers report projects that the number of Foreign Corrupt Practices Act (FCPA) cases and the severity of penalties will most likely continue to rise. The report contains some useful guidance, including steps related to implementing an anti-corruption program. To view the full article go to: http://bigfatfinanceblog.com/2009/08/05/a-growing-demand-for-fcpa-awareness-and-compliance/ --The Finance Challenge of Aligning the Business with Strategic Goals Philip Peck, Director and Practice Leader for CFO Services at Palladium Group, Inc., discusses the role of Finance in aligning financial and operation plans with strategic goals in this BPM Resource Center podcast. To view the full article go to: http://resources.bpmmag.net/index.html?action=viewSponsors&sponsorID=23 ---------------------------------------- Sponsor: BPM Magazine http://bpmmag.net/ ---------------------------------------- Webcasts ---------------------------------------- The Total Economic Impact of Performance Management Solutions: A Forrester Study of Tagetik 3.0 ROI and Payback Period http://w.on24.com/r.htm?e=159049&s=1&k=8D02CC97BD5064F3A79F6AD17A4C2C20&partnerref=newsletter Budgeting & Reporting with Microsoft Technology http://w.on24.com/r.htm?e=159447&s=1&k=9333FA124EF35590037C3DEEBDBDC099&partnerref=newsletter What You Need to Know About Fixed Asset Management for Today and 2010 http://w.on24.com/r.htm?e=161850&s=1&k=CEF0C72E39945CD5796640D6F6AEAB14&partnerref=newsletter ---------------------------------------- Video ---------------------------------------- Finding Cash By Tapping Indirect Tax Scott Shafer, a partner with Deloitte Tax LLP, explains how finance executives are increasingly leveraging indirect tax opportunities to generate refunds and recover large sums of money. http://businessfinancemag.com/video/finding-cash-tapping-indirect-tax-0911 ---------------------------------------- In this Issue ---------------------------------------- Business Finance magazine now FREE to qualified subscribers. 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