In a world where data proliferates at an unprecedented rate, understanding and managing alternative data, or ‚altdata‘, is becoming increasingly critical for organizations. Altdata encompasses information that exists outside of traditional financial and regulatory reporting channels—ranging from social media insights to geolocation data and beyond. As the digital landscape expands, so does the scope and […]
The Securities and Exchange Commission (SEC) has finalized a settlement with California-based footwear giant, Skechers U.S.A. Inc., concerning undisclosed payments to family members of executives and undisclosed loans to its executives. Skechers has agreed to pay a $1.25 million civil penalty to resolve these charges. The SEC’s findings reveal that from 2019 through 2022, Skechers […]
The rapid advancement of artificial intelligence (AI) in education is reshaping how academic institutions operate and interact with students and faculty. A standout example of this integration is ChatGPT, a generative AI developed by OpenAI. Based on the GPT-3.5 model, ChatGPT offers a conversational interface that can simulate human-like interactions, making it an invaluable tool […]
In the realm of accounting and finance, the choice of auditor and its impact on the transparency and quality of financial reporting is a pivotal concern for both academics and practitioners. The study by Karel Hrazdil, Dan A. Simunic, and Nattavut Suwanyangyuan, published in the Journal of Accounting, Auditing & Finance, sheds light on this […]
A recent study by Annika Bonrath and Marc Eulerich, published in the International Journal of Auditing, embarks on an insightful exploration into the integral role of Internal Audit Functions (IAF) in the domain of fraud prevention and detection. This research is timely, given the increasing complexities within organizational structures and the rising prevalence of fraudulent […]
Artificial Intelligence (AI) has taken a front seat, steering innovation and operational efficiencies across industries. However, with great power comes great responsibility, and the rapid adoption of generative AI (GenAI) is no exception. A recent survey conducted by Gartner, Inc. reveals a significant shift in the audit landscape, spotlighting AI-related risks as the area seeing […]
A new study conducted by Mara Cameran, Domenico Campa, and Angela Pettinicchio published in the Journal of Accounting, Auditing & Finance delves into an important but less explored aspect of workplace diversity in the accounting profession, particularly focusing on the Australian audit market. Their research investigates whether ethnic minority audit partners face discrimination through lower […]
In the digital age, artificial intelligence (AI) has evolved from a futuristic vision to a core component of business strategy. This transition, especially with the advent of Generative AI, places AI at the heart of business technology, compelling businesses to reassess its potential impact critically. The latest insights from the National Association of Corporate Directors’ […]
In a revealing study that illuminates the shadowy depths of corporate fraud, Alexander Dyck, Adair Morse, and Luigi Zingales explore the real magnitude of corporate misconduct and its financial implications on a global scale. Published in the „Review of Accounting Studies,“ their research employs a novel approach by leveraging the fallout from Arthur Andersen’s demise […]
In the era of artificial intelligence (AI), the question of moral responsibility in the face of harm caused by AI systems becomes increasingly pertinent. As AI continues to permeate various sectors—marketing, healthcare, finance, and beyond—its autonomy and decision-making capabilities raise significant ethical concerns. Yulia W. Sullivan and Samuel Fosso Wamba’s research, „Moral Judgments in the […]
As the business environment continues to evolve in 2024, internal auditors are at the forefront of navigating through a labyrinth of challenges and opportunities presented by globalisation, climate change, geopolitical tensions, and rapid digital transformation. The KPMG Internal Audit Topics 2024 report shines a light on the pressing issues and emerging trends that are redefining […]
In the dynamic landscape of organizational management, the strategies employed to motivate employees and enhance performance have always been a subject of extensive research and debate. A recent study conducted by D. Kip Holderness, Kari Joseph Olsen, and Todd A. Thornock, and published in Behavioral Research in Accounting, takes a closer look at the nuanced […]
In an era where the complexity and pace of change are unparalleled, the PwC Global Internal Audit Study 2023 provides a beacon for internal auditors navigating through the intricate landscape of risks and opportunities. This extensive study, drawing insights from a broad spectrum of 4,680 leaders across 81 countries, underscores the evolving role of Internal […]
In the intricate world of auditing, the stakes are high when it comes to detecting fraud. Auditors, tasked with ensuring the financial integrity of organizations, must navigate a landscape where the mere mention of „fraud“ can tighten lips and close doors. Recent research led by Jared Eutsler from the University of North Texas, along with […]
In the realm of social sciences, the echo of a replication crisis has been reverberating, casting shadows of doubt over the reliability of research findings. This crisis suggests that many studies might not hold up under the scrutiny of replication attempts, a cornerstone of scientific validation. Accounting research, a vital subset of the social sciences, […]
In an age where the velocity of information can significantly impact financial markets, a recent study by Jenna D’Adduzio of The University of British Columbia, David S. Koo of George Mason University, Santhosh Ramalingegowda of the University of Georgia, and Yong Yu of The University of Texas at Austin sheds light on a pivotal aspect […]
In the fast-paced world of business, the speed at which companies fill job vacancies might seem like a trivial detail. However, a recent study published in the Review of Accounting Studies sheds light on the significant implications this detail holds for future firm profitability, particularly distinguishing between low-skill and high-skill job vacancies. Conducted by Ciao-Wei […]
In the ever-evolving landscape of the auditing profession, ethical conflicts (ECs) emerge as formidable challenges that auditors grapple with daily. These conflicts arise when auditors find themselves at a crossroads, torn between their personal values, professional obligations, and the actions they are compelled to take. The essence of such dilemmas is not only the struggle […]
In a recent development, the U.S. Securities and Exchange Commission (SEC) has taken action against Brian Sewell and his company, Rockwell Capital Management, in connection with a fraudulent scheme that targeted students enrolled in Sewell’s online crypto trading course, the American Bitcoin Academy. This scheme has left 15 students out of pocket by a staggering […]
In a world grappling with climate change, resource depletion, poverty, and injustice, the need for sustainable solutions has never been more urgent. Yet, the question remains: how can innovation be harnessed to address these pressing challenges responsibly? Enter the realm of „Responsible Design Thinking for Sustainable Development.“ This concept, revitalized by Brian Baldassarre, Giulia Calabretta, […]
On January 25, 2024, Securities and Exchange Commission (SEC) Chair Gary Gensler delivered a speech highlighting the significance of shortening the settlement cycle in financial markets. In his address, Chair Gensler emphasized the impact of this move on market efficiency, risk reduction, and investor benefits. The GameStop Events: A Reminder of Market Plumbing Chair Gensler […]
In the realm of corporate finance and reputation management, the question of how to effectively repair a company’s image after a financial restatement is a critical one. Lei Dong and Y. Ken Wang address this issue in their study, „Reputation Repair after a Restatement: The Role of Corporate Social Responsibility Disclosure,“ published in the Journal […]
The adoption of artificial intelligence (AI) in the field of accounting is rapidly changing the dynamics of the profession. A recent workshop, hosted by the Journal of Information Systems, brought together industry experts and academics to discuss the implications of AI for accounting. The key question on everyone’s mind: will accountants with AI replace accountants? […]
In the intricate world of occupational fraud, the decisions victim organizations make about punishing perpetrators are as varied as they are complex. A recent study published in the Journal of Forensic Accounting Research by Erlina Papakroni, Marie Rice, and Lisa M. Dilks delves deep into this subject. The research, utilizing data from the Association of […]
In the picturesque town of Davos, Switzerland, the 54th Annual Meeting of the World Economic Forum recently convened, bringing together a diverse array of global leaders against a backdrop of mounting geo-political tensions and emerging global challenges. Davos, known for its serene landscapes, transformed into a bustling hub of global discourse as over 60 heads […]
In the rapidly evolving world of accounting, a recent study sheds light on two crucial factors influencing accounting students‘ commitment to the profession: the sense of belonging and the impact of stereotype threat. Cristina Bailey, Serena Loftus, and Sarah Shonka McCoy delve into this topic in their article, „Do I Belong? The Impact of Belongingness […]
In a world where diversity and inclusion are becoming increasingly important in the workplace, a recent research article titled „Perceived Organizational Inclusion: Evidence from Neurodivergent Accountants in the U.S.“ by Loreal Jiles, Qi Duong (Susie), and Roopa Venkatesh explores the intersection of neurodiversity and the accounting profession. This study sheds light on the challenges faced […]
Drawing on organizational legitimacy theories, a recent research paper suggests that managers may adopt similar accounting practices as industry leaders to gain credibility and legitimacy. Especially for newly appointed CEOs, mirroring the accounting behaviors of industry leaders can serve as a signal of trustworthiness in an environment where stakeholders might be uncertain about their capabilities. […]
In their recent study, Yueqi Li, Sanjay Goel, and Kevin Williams delve into the profound impact of remote auditing on the audit profession. First published in February 2023, their research provides a comprehensive analysis of how the shift from traditional on-site audits to remote audits has affected audit quality, efficiency, and auditors‘ job satisfaction. Key […]
In their recent research article, Stefan Simic, Le Luo, and Rina Datt provide intriguing insights into how compensation strategies within companies influence their decision to engage in carbon assurance. Published in September 2023, their study, titled „Compensation and carbon assurance: Evidence from the United Kingdom,“ explores a significant and timely topic given the growing urgency […]
Tracie Frost, Liwei Shan, Albert Tsang, and Miao Yu’s research, published in July 2022, examines the relationship between media coverage of corporate social irresponsibility (CSI) and audit fees on a global scale. Their study, using data from 35 countries, found a significant positive correlation between media exposure of CSI and increased audit fees. This relationship, […]
Robotic Process Automation (RPA) has emerged as a popular tool among auditors and corporate accountants, aiding in various accounting tasks. While the benefits of RPA are often highlighted, its potential risks and challenges are less frequently discussed. In a revealing article by Marc Eulerich, Nathan Waddoups, Martin Wagener, and David A. Wood, titled „The Dark […]
In the realm of corporate finance and accounting, the impact of internal control weaknesses (MWs) on shareholder trust and perceptions is a topic of ongoing interest and importance. A recent article by Hambisa Belina, K. Raghunandan, and Dasaratha V. Rama, titled „Do Shareholders Care about ‚Surprise‘ Internal Control Weakness Disclosures?“ published in Current Issues in […]
The article „Attracting the Next Generation of Accountants“ delves into the intersection of career choice and personal values in the wake of the COVID-19 pandemic. With a spotlight on Gen Z’s entry into the workforce and their affinity for sustainability, the study presents an intriguing exploration of how the accounting profession could evolve to meet […]
In their recent study published in „AUDITING: A Journal of Practice & Theory,“ Ghio, Moulang, and Gendron delve into the experiences of women auditors during the COVID-19 pandemic. They identify that the pandemic, far from leveling the playing field, instead further highlighted and intensified existing gender norms and disparities in the audit profession. Women auditors […]
In the rapidly evolving landscape of finance and accounting, the potential of Audit Analytics (AA) stands out, promising to transform the Internal Audit Function (IAF). However, despite its potential, its adoption remains limited. A recent study in the „Journal of Emerging Technologies in Accounting“ delved deep, identifying both driving and inhibiting factors affecting AA’s integration. […]
The world of financial reporting has seen significant transformations in the past few decades, with evolving regulatory standards and changing business environments. Amid these changes, one area that has continually held significance is the internal audit function (IAF). Despite its importance, the IAF has remained an area with limited data availability, constraining further research and […]
Recent developments in the accounting industry have led to increased collaboration between professionals from different accounting firms. This collaboration involves firms providing various services, such as audit and tax, to client organizations. While this trend offers many benefits, it also raises questions about how information is shared among these professionals and its potential impact on […]
The Securities and Exchange Commission (SEC) has made two significant announcements recently, indicating its ongoing commitment to a transparent and accountable financial market. Registration Fee Rate Hike for Fiscal Year 2024 The SEC unveiled the fee rates for fiscal year 2024. Effective from October 1, public companies and other issuers will experience an increase in […]
Earnings management has long been a concern in the corporate world, with companies striving to meet or beat analysts‘ earnings forecasts through various accounting tactics. External auditors play a critical role in curbing opportunistic earnings management behavior and providing financial statement reliability. However, recent research by Eric Lohwasser and Yaou Zhou explores how companies that […]
Generative AI, a technology with the capability to drive vast economic transformation, is on the brink of reshaping our future. McKinsey’s recent research underlines the sheer magnitude of this shift, suggesting generative AI could add a staggering $2.6 to $4.4 trillion annually across numerous use cases. To put this in perspective, this is akin to […]
In the era of remote work, public accounting firms grapple with a vital concern: how to effectively socialize new employees. This process, known as Organizational Socialization (OS), is pivotal for new professionals to assimilate the attitudes, values, social skills, and technical expertise vital to their success in the firm. Historically, newcomers were inducted into a […]
Whistleblower programs have undoubtedly made their mark in the corporate sector, acting as a formidable tool in the fight against unethical behavior. Yet, when we pivot our attention to the academic realm, especially where student policies for reporting peer misconduct are concerned, a glaring gap emerges. F. Todd DeZoort’s enlightening research, published in the esteemed […]
Artificial intelligence and algorithmic decision-making systems have become an integral part of our daily lives, impacting various aspects, from e-commerce and entertainment to medical diagnosis and financial domains. While these algorithms offer efficiency and scalability, users often struggle to trust these systems due to the „black box paradox.“ Users increasingly demand transparency in algorithmic decision-making […]
There is a rapid shift in auditing practice with the integration of audit data analytics (ADA) tools. As the audit landscape changes, the question arises: How can educators effectively integrate ADA into the existing auditing curriculum to better equip students for the future of auditing? An illuminating study by Booker, Pelzer, and Richardson, published in […]
The Public Company Accounting Oversight Board (PCAOB) has introduced critical audit matters (CAMs) to expand audit reports to provide external users with more information regarding potential risks of material misstatements. While the intention of CAM disclosures is to highlight the risk of material misstatement and the corresponding audit procedures, early studies suggest that investors may […]
A newly published paper in Accounting Horizons highlights the implications of frequent auditor switching for the audit quality. The paper is particularly significant for regulators, practitioners, and academics to inform policy discussions, audit committee disclosure requirements, risk models, investment decisions, and future research on auditor switching. Existing accounting research primarily focuses on single-instance auditor changes […]
In 2022, several risk areas put organizations in a state of permanent crisis: the ongoing pandemic, supply chain issues, climate change along with natural disasters, persistent inflation and rising energy prices driven by the war in Ukraine. For this reason, 14 Institutes of Internal Auditors across 15 European countries have conducted a study on key […]
A newly released paper emphasizes the significance of risk governance in organizations and its susceptibility to internal and external influences. It underscores the importance of executives and boards in setting a strong tone at the top regarding risk governance in their organizations. This tone should prioritize and highlight the value and role of risk governance […]
The International Sustainability Standards Board (ISSB) has recently issued its first Request for Information (RFI) on May 4, 2023. The purpose of this Request for Information (RFI) is to gather input and shape the ISSB’s work plan for the next two years. The ISSB is currently seeking feedback on its priorities during this period. You […]
The Securities and Exchange Commission (SEC) has issued thelargest-ever whistleblower award of nearly $279 million. The award was granted to a whistleblower whose information and assistance led to successful enforcement actions by the SEC. This award surpasses the previous record of $114 million given in October 2020. The SEC’s whistleblower program has been highly successful […]
As of December 15th, 2022, the IDW has introduced ISA [DE] 315 (Revised 2019), an auditing standard that has been fundamentally revised by the IAASB to identify and assess the risks of material misstatement. Due to the changing audit scope resulting from ongoing digitization, the increasing use of new automated tools and techniques, and other […]
The US Securities and Exchange Commission (SEC) requires all firms to include a risk factor section in their periodic filings, but doubts remain about the informativeness of these disclosures. Cybersecurity risk disclosures are particularly important due to the increasing number of data breaches, and firms have a responsibility to inform investors about changes in their […]
COSO has released additional guidance „Achieving Effective Internal Control of Sustainability Reporting“ using the globally recognized COSO Internal Control-Integrated Framework as its basis. The guidance includes references to the role of internal audit function in sustainability reporting and key themes to consider while establishing and maintaining an effective system of internal control over sustainable business […]
The Public Sector differs significantly from profit organizations in terms of its objectives and purpose. Thus, the work and structure of internal audit functions (IAFs) differ fundamentally between these types of organizations as well. To address the special needs of IAFs within the public sector a practice guide by the Institute of Internal Auditors (IIA) […]
In the last report “Redefining the Resilient Organization” of a three-part series on “Internal Audit in a Post-COVID World” by the Institute of Internal Auditors (IIA), the authors give internal auditors guidance on how to prepare organizations for potentially arising business transformations and disruptions. Part of this guidance is putting the internal auditor’s focus, especially […]
The collection on „Global Perspectives & Insights: Cybersecurity in 2022, Parts 1-3”, published by the Institute of Internal Auditors, discusses different issues within the contemporary evolving cybersecurity landscape. While part 1 focuses on the implications of regulatory changes on cyber reporting by the SEC, part 2 deals with the benefits of symbiotic relationships between Heads […]
The report „Embedding ESG and sustainability considerations into the Three Lines Model“, co-written by the World Business Council for Sustainable Development (WBCSD) and the Institute of Internal Auditors (IIA), provides suggestions and guidance, on how environmental, social, and governance (ESG)-related matter can be integrated into the key roles of the revised Three Lines Model – […]
In its second report on “Internal Audit in a Post-COVID World”, the Institute of Internal Auditors (IIA) deals with global supply chains, which were severely hit by pandemic challenges and uncertainties, being only 2% of global supply chains prepared for such an event according to surveys of the US branch of the consulting firm Ernst […]
In its first report on “Internal Audit in a Post-COVID World”, the Institute of Internal Auditors investigates talent management within a post-pandemic setting. In the light of the pandemic-driven demand for flexibility and human-centricity of employees, the findings suggest difficulties of employers to offer the required individual employee’s flexibility while retaining internal audit functions with […]
In its reaction to the European Financial Reporting Advisory Group (EFRAG) consultation on the Draft of European Sustainability Reporting Standards (ESRS), the European Confederation of Institutes of Internal Auditing (ECIIA) is strongly advocating that the EFRAG provides necessary clarity on the role of Internal Audit has in light of ESG matters. To be precise, since […]
In their joint global survey „Internal Audit: A Global View“ by the Internal Audit Foundation and the Institute of Internal Auditors (IIA), in which more than 3,600 internal audit professionals from a range of different entities, industries and regions in 159 locations were asked, trends within the development of internal audit functions (IAFs) were examined. […]
In its report, Accountancy Europe, a professional membership organization uniting 50 professional organizations representing qualified accountants, auditors and advisors across Europe, provides clarity on the structure of public audit oversight following changes within European Union (EU) audit legislation in 2014. In light of one key objective within the changes in EU regulation: harmonization of public […]
In their joint survey „Internal Control and the Transformation of Entities“ by the Institute of Management Accountants, the Association of Chartered Certified Accountants and the Internal Audit Foundation, in which more than 1,950 professionals from the areas of finance, accounting and internal audit from a range of different entities worldwide were asked, it was examined […]
In its guidelines, the European Banking Authority (EBA) provides further clarity regarding Directive (EU) 2015/849 of the European Parliament and of the Council of 20 May 2015 on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing (AML/CFT efforts). Specifying the mandatory introduction of an AML/CFT […]
In their joint report „Diversity, Equity, and Inclusion (DEI) 101: Internal Audit’s Invaluable Role in Creating a Sense of Belonging at Work,“ the Institute of Internal Auditors, Deloitte and the Internal Audit Foundation discuss how internal audit functions (IAFs), based on their role as an assurance providers, trusted advisors and agents of change, could have […]
The European Confederation of Directors Associations (ecoDa), which represents the interests of approximately 55,000 board members within the EU, has published a position paper on the European Commission’s proposal for a Directive on Corporate Sustainability Due Diligence. The aim of this new Directive would be to foster sustainable and responsible corporate behavior along the entire […]
Increasingly common risks in the cybersecurity perimeter are considered particularly dangerous for businesses. Therefore, this report by the Institute of Internal Auditors of Spain is aimed at audit committee members to raise awareness for such risks, and to point out ways to monitor these. For this purpose, key questions are introduced to help explain the […]
One of the biggest challenges CAEs face is having enough personell obtaining the right abilities to complete their audit plans. To meet this challenge, many CAEs engage third parties for some of their internal audit activities. This report will help internal audit practitioners, managers and audit committees to more effectively manage these chalenges.
The European Commission has introduced a proposal for a directive on corporate due diligence in the field of sustainability. First, it has completed an impact assessment. The proposed directive will require companies to integrate due diligence into their policies and decision-making identify, prevent, mitigate and minimise actual or potential adverse impacts on human rights and […]
Der Bericht „Interne Revision und Compliance: Klarheit und Zusammenarbeit für eine bessere Governance“ in der Reihe Global Perspectives & Insights des IIA erläutert, wieso ein einheitliches Rollenverständnis für eine wirksame Compliance und eine unabhängige Prüfung bedeutend sind. Die Publikation enthält Analysen zur Anwendung der sechs Grundsätze des Drei-Linien-Modells und Beispiele aus der Praxis. Hier können […]
The IIA Netherlands presented the Internal Audit Ambition Model in October 2018. The approach has convinced the representatives of internal audit. With the help of the model, they can define the audit functions, check whether they comply with the standards of the IPPF. In addition, the model supports communication with the audit committee by providing […]
The 25th PwC Global CEO Survey surveyed 4446 CEOs from 89 countries.It shows that CEOs remain confident. Around 77 percent of CEOs believe that global economic growth will improve in the coming twelve months (previous year: 76 percent). Nevertheless, there are many threats, uncertainties and tensions. CEOs are most concerned about cyber risks, followed by health risks […]
The 2021 Corruption Perceptions Index (CPI), released this week by Transparency International, shows that corruption around the world is treading water. 86 percent of countries have made little or no progress over the past decade. The CPI ranks 180 countries and territories on perceived levels of public sector corruption on a scale of zero (very […]
Anyone following discussions about the growing importance of compliance as a rule-based management tool may get the impression that integrity and trust have become fundamentally dispensable and that the principles of the honorable businessman are no longer in keeping with the times. But on closer inspection, the opposite is true. In practice, compliance is mainly […]
The current crisis has shown that we live in a digital environment, and this trend will intensify in the future. Working in a digital environment will be a normal state in the future. IIA Netherlands, in cooperation with EY, conducted a study on how Internal Audit (IAF) is using digitalization technologies such as Robotic Process […]
The concern of executives about the state of the world’s climate has increased in recent months. But optimism that immediate action can make a difference has also increased. This is shown by Deloitte’s new CxO Sustainability Survey 2022. The survey polled a total of more than 2,000 C-level executives in 21 countries. The focus of the […]
To remain relevant in the current business environment, internal audit must maintain an innovative mindset, challenge and update existing audit methodologies, and leverage emerging technologies such as governance, risk, and control (GRC) to improve business collaboration. The report „Using Evolving Technologies to Improve Collaboration: How GRC Software Can Support Risk Management and Internal Audit“ by […]
The European Banking Authority (EBA) published its revised Guidelines on internal governance for investment firms under the Investment Firms Directive (IFD). The guidelines provide details on how the IFD governance provisions should be applied by Class 2 investment firms by setting out the roles, responsibilities, and organization of the management body, as well as the organization […]
With societal expectations increasingly permeating corporate governance, companies‘ business models must evolve to deliver sustainable value creation that benefits not only shareholders but also internal and external stakeholders and society at large. In this context, ecoDa and Mazars have jointly published a practical guide to help board members and leadership teams navigate their company’s sustainability […]
Whereas a decade ago boardrooms were concerned with the question „should we invest in digital transformation?“ today the focus is on „how much should we invest and, more importantly, how quickly should we invest if we are accountable to our shareholders?“ Although the question may not seem that complex at first glance, many other questions […]
The Covid 19 pandemic is not over yet, and broads and management teams need to address key issues to prepare for the next normality. A new article from McKinsey addresses the issues that managers should be aware of. For example, the first point is, „Boards must strike the right balance between hope for the future […]
The corporate world faced a number of complex challenges last year, including the COVID-19 crisis, new workplace paradigms, extreme climate change, political and economic economic volatility, and urgent calls for racial justice. Despite the expected continued challenges in the current year, the focus of companies must go beyond risk avoidance and compliance. These will, of […]
Companies around the world are adapting environmental, social and governance (ESG) issues and shifting them to the center of strategic concerns. They recognize ESG as a driver of value creation and urgently develop a proactive ESG mindset. PwC’s most recent Global Responsible Investment Survey shows that mutual funds are on this path and, with decades […]
Companies face the challenge of positioning and aligning various governance functions. In this context, redundancies should be avoided and coordinated management should take place. In an article by Prof. Dr. Marc Eulerich, Joel Behrend and Benjamin Fligge titled „The New Three Lines Model: Positioning Risk Management“, the Three Lines Model is discussed as well as […]
While much uncertainty was the only certainty in the CEO Outlook 2020 due to the COVID 19 crisis, optimism is now back in the boardroom one year later. According to KPMG’s „CEO Outlook 2021 – Plugged-in, people-first, purpose-led“, CEOs are confident about the growth prospects of their company and the general global economy. In particular, […]
Deloitte interviews in her Legal Podcast Series experts on legal innovations and current topics in the field of German and international business law. In the different episodes the economic relations between Germany and the countries Japan, China, Israel and the Netherlands are discussed. You can listen to the podcast here. Please note: The introduction texts […]
Boards often focus on known risks that management has already identified. In this context, in an online survey of directors by the National Association of Corporate Directors (NACD), nearly half of respondents said this tendency is a major impediment to the board’s ability to oversee disruptive risks. Disruptive risks include „risks that, whether internally- or […]
Looking at any list of large company’s chief compliance officers, several can be found who also hold the titles of chief audit executive, head of risk management, and other roles. Is it possible to combine the roles of Chief Audit Executive and Head of Corporate Compliance or other jobs without sacrificing the independence that is […]
Supervisory bodies also have to face new questions and challenges in the context of the Corona pandemic. A whitepaper from Deloitte takes a closer look at the role of the supervisory board in times of Covid-19. It shows that the main work currently is on the executive. The supervisory board should take a supporting internal […]
According to a global IT risk and compliance survey 2021 conducted by IT provider MetricStream among global security and risk experts, IT security and compliance are the top technology investment priorities this year. When asked about their plans, 38 percent of respondents said they would increase their IT risk management spending this year. However, the […]
Environmental, social and governance (ESG) issues are becoming increasingly important in organizations. Companies are more and more under pressure to publicly commit to sustainability and to report on their activities. To date, however, there are not many defined rules for ESG reporting or what ESG reporting should retain. As part of effective governance, Internal Audit […]
Governance has never been more important as organizations face the turbulence of a global pandemic, technological change, increasing economic disparities, geopolitics, globalization, climate change and much more. The governing bodies and management grapple with questions about disrupted work environments, changing markets and lost revenue. The three-line model of the IIA provides timely answers for organizations […]
The expectations and assessments of CFOs are taken up in the new study by Deloitte. In a survey, CFOs were asked about macroeconomic, corporate strategy and financial topics. A total of 140 CFOs of large German companies were surveyed in the study It becomes clear, for example, that 43% of the companies surveyed have already […]
The #MeToo and Black Lives Matter movements have drawn attention to grievances and injustices. Related to this, issues such as diversity, equity and inclusion (DEI) are essential for companies. To promote DEI, companies have to start at the top. A key question is, for example, how diverse are boards? The topic of diversity is addressed […]
The importance of compliance in companies has been growing for years. This is because companies have a responsibility to ensure compliance with the increasing national and international regulations and to meet compliance requirements. This can be demonstrated, for example, with the implementation of an effective compliance management system (CMS). As a guideline and support for […]
Deloitte’s new „Chief Strategy Officer Survey 2021“ provides insights into the assessments and perspectives of CSOs worldwide on the future shape of the strategy function as well as their own role in times of the pandemic. It identifies a total of four core topics that are on the CSO agenda. These are: – Strategy Evolved: […]
CEO confidence is up significantly – worldwide. With the Covid-19 pandemic already occupying us for a year, CEOs‘ Optimus is at a record high. Overall, 76% of CEOS surveyed believe global economic growth will improve over the next 12 months, up from 22% last year. That’s according to PWC’s Global CEO Survey, which polled more […]
Companies have to deal with various challenges. These include the ubiquitous Corona pandemic, growing social unrest, new technologies, digitalization innovations, and new strategies and business models. The multitude of issues and the complexity associated with them does not make it any easier for companies. Protiviti’s new report presents the top risks currently facing boards and […]