BF_GRC FINANCE LINK Penton Media October 21, 2009 If you want to view this on the web go to: http://enews.penton.com/enews/businessfinance/v/233 ---------------------------------------- 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 --Raise Your Company's Risk IQ In this Q&A, Full Disclosure author Eric Krell asks CA Director of GRC Programs Sumner Blount to define "risk IQ" and to share some of the qualities he has witnessed in risk intelligent organizations. To view the full article go to: http://businessfinancemag.com/article/defining-risk-iq-1012 --Universal Recession Risk: Small-Company DBT Throughout this recession, small companies have suffered -- and, importantly, continue to suffer -- more intensely than larger companies. The suffering, which takes the form of late accounts receivable (A/R) payments and higher days beyond (payment) terms (DBT), poses a risk to small and large enterprises alike. To view the full article go to: http://bigfatfinanceblog.com/2009/10/14/universal-recession-risk-small-company-dbt/ ---------------------------------------- ADVERTISEMENT To download the latest Partner Resources, please view the web version of the newsletter or visit businessfinancemag.com. ---------------------------------------- --Addressing Information Security Risks Even though execs are aware of major data breaches, like those at TJX Companies and Soci_t_ G_n_rale, many aren't working to control risks in their own companies. Brian Cleary, a vice president with Aveska, explains the importance of data breaches and information security risks and provides suggestions on how companies can address the problems. To view the full article go to: http://bigfatfinanceblog.com/2009/09/30/grc-primer-managing-entitlements-and-roles/ --OFAC Compliance 101 Do you know what a specially designated national (SDN) is? More important, do you know if you are doing business with one of them? If you're a GRC professional at a company that conducts any sort of international business, you ought to or you could run into trouble with the Office of Foreign Assets Control (OFAC). To view the full article go to: http://businessfinancemag.com/article/ofac-compliance-101-1008 --Mastering Exception Management Exception management -- the process by which people respond to the information that GRC technology spits out -- enables the organization's investment in GRC technology to generate valuable returns when executed correctly. However, if exception management is ignored or botched, and it often is, the technology and the entire GRC program can falter. To view the full article go to: http://bigfatfinanceblog.com/2009/09/23/mastering-exception-management/ --Will IFRS Make Journal Entries a Riskier Part of the Reporting Process? Will manual journal entries, which are a key component in the financial closing and reporting process for the foreseeable future, become a riskier component of the financial process when we move to the principles-based standards of IFRS? To view the full article go to: http://bigfatfinanceblog.com/2009/10/02/manual-jes-risk-and-ifrs/ --Pro-Business Lobbyist Feels Heat From Members Three U.S. utility companies, including Exelon and Pacific Gas and Electric, have canceled their memberships in the U.S. Chamber of Commerce in response to the powerful pro-business lobbying organization's stance on climate change. To view the full article go to: http://bigfatfinanceblog.com/2009/10/05/pro-business-lobbyist-feels-heat-from-members/ --The Trouble With Determining Fraud Materiality What does materiality mean when it comes to fraud? Accountants often use a "5 percent rule" to determine materiality -- meaning investors would not be unduly influenced by changes in net income or income statement line items that are under 5 percent -- yet other statutes and regulations have almost zero tolerance when it comes to determining what is material. How should companies determine what is best for them? To view the full article go to: http://bigfatfinanceblog.com/2009/09/25/zero-tolerance-vs-materiality/ --Tone at the Top Comes First Which is more important to the success of a GRC program -- culture, funding, or processes/technology? Bob Tizio, governance, risk, and compliance officer for SAP Americas, says "They're all equally important," He adds, "I think you really need to have the right culture -- the right tone at the top -- or else you're not going to get the funding, the people, or the technology you need to move forward." To view the full article go to: http://bigfatfinanceblog.com/2009/09/17/tone-at-the-top-comes-first/ --GRC Spending to Increase in 2010 According to a new survey, nearly 45 out of 50 European-based GRC executives (including those from Barclays, Lloyds, and Swiss Re) expect their companies' GRC technology spending to increase or hold steady next year. To view the full article go to: http://bigfatfinanceblog.com/2009/09/24/grc-spending-to-increase-in-2010/ --Fraud Hits Academia Here's the bad news: fraud happens everywhere. The media tend to focus on public corporations, but fraud also crops up in nonprofits and the academic world. One area that's increasingly becoming a problem is federal grant fraud in academia, as documented by Fraud Magazine. Here are some ways to get it under control. To view the full article go to: http://bigfatfinanceblog.com/2009/09/18/watching-out-for-grant-compliance/ --The Future of Financial Reporting: A Market Perspective Global investors are demanding stricter corporate governance and compliance requirements for publicly held companies. Read this white paper to learn more about the issues, new principles, and technologies underlying these new requirements. To view the full article go to: http://businessfinancemag.com/whitepaper/dont-miss-these-oracle-whitepapers-0922 ---------------------------------------- Sponsor: BPM Magazine http://bpmmag.net/ ---------------------------------------- Webcasts ---------------------------------------- T&E's New Rules: Innovation Is The Key to Unlocking Expense Management Savings http://w.on24.com/r.htm?e=163536&s=1&k=42230754B7377643D2AB2AB021013910&partnerref=newsletter Trends in Accounts Payable Automation: Electronic Invoice Management http://w.on24.com/r.htm?e=168247&s=1&k=3C6407712048EA78BCA2E7A785758758&partnerref=newsletter ---------------------------------------- Video ---------------------------------------- Death of the Budget? Steve Player, North American Director, Beyond Budgeting Round Table, explains how approaches to traditional budgeting have broken down over the last eighteen months, and what steps finance executives need to take to replace traditional budgeting processes. http://businessfinancemag.com/video/death-budget-1020 ---------------------------------------- In this Issue ---------------------------------------- Business Finance magazine now FREE to qualified subscribers. Subscribe now! 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