Enterprise Risk Management is a risk-based approach to managing an enterprise, integrating concepts of internal control, the Sarbanes–Oxley Act and strategic planning. The AICPA provides information, tools and resources on enterprise risk management for its members to add value to their company and their clients.
At the beginning of a new year, many people create lists of resolutions or goals for the future. Just like you, companies make resolutions, too. Sometimes companies devise intricate ways to monitor and measure results against these goals. Yet, even with these seemingly adequate preparations in place, one continues to hear and read about project failures with nearly 50 percent of enterprise system implementation projects deemed failures. After a poor go-live, there is plenty of finger-pointing, usually at the external implementation and vendor team. But, from my perspective, there is also a significant amount of blame that should be shared by the user organization.
So as a CPA and consultant, I would like to offer some resolutions for companies to keep when implementing a new computer system or undertaking an upgrade effort. These resolutions are based on an aggregation of observations during my work troubleshooting and resolving problems after the fact, and are not unique to any one client experience but are common to many engagements.
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The following podcast is from the AICPA Insights Live webcast series and covers 10 things one should know about internal controls as presented by Findley Gillespie and Steven Gin of Moss Adams. The list includes:
- Why a Training on Risk and Controls?
- Assessing the State of Controls at Your Organization
- Controls Maturity across the Three COSO Objectives
- Entity-Level Controls
- Information Technology Controls
- Segregation of Duties Controls
- Fraud Prevention Controls
- Documenting Policies and Procedures
- Responding to Deficiencies
- Recognizing Common Deficiencies
10 Things You Should Know About Internal Controls
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the IT environment is a key issue in today's business world as organizations
attempt to manage the risks in cloud computing, the use of mobile devices and
defending against cyber-attacks. The importance of security is becoming more
apparent each day. Earlier this year, Yahoo
Japan experienced an IT security breach in which the user names of 22
million people were stolen. Back in 2010, Google
reported that it was the victim of a Chinese cyber-attack; a similar attack
is believed to have been launched
against the U.S. government. But it’s not just big businesses and
governments that have to fend off cyber-attacks; small
businesses experience the same problems. Securing the IT environment is
clearly a universal issue and can be a constant challenge when it comes to
Continue reading "IT Security Key Concern for CPAs and Their Clients" »
I live blogged from the AICPA's Sustainability Workshop that took place May 2 to 3 in New York City. The workshop is part of the Executive Boardroom Series from the AICPA and the Enterprise Risk Management Initiative at the Poole College of Management at North Carolina State University. Below is a replay of the entire two-day event.
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allows CPA firms to better understand, manage and grow their practices. Yet, it
can come with its own set of challenges when trying to manage and retain data,
secure IT environments and stay in compliance, according to the latest top
technology initiatives survey from the AICPA’s Information Management and
Technology Assurance Division.
North America Top Technology Initiatives Survey, conducted jointly by
the AICPA and the Chartered Professional Accountants of Canada, asked accounting
professionals in public accounting, business and industry, consulting, government,
not-for-profit and other organizations about their top 10 technology
initiatives in 2013. Here's the top 10 in the U.S. and Canada:
Continue reading "2013 TTI Survey Lists Top 10 Technology Initiatives in U.S. and Canada" »