Forensic accounting profession is a specialized area for accountants. Forensic accountants are considered as the elite group of accountants who have further developed their accounting, auditing, legal, investigations, dispute resolution skills and of course technology knowledge to work in a digitally driven business environment. Forensic accountants are financial detectives who…
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Current challenges of forensic accounting profession
June 21, 2020 2:40 pmManaging Operational Risk of Insurance Companies – Part 4
September 1, 2019 1:44 pmOperational Incident & Loss Data, and Capital Calculation Internal loss data: Types of operational risk incident An operational risk incident is a result of an operational risk event i.e., failed or inadequate internal processes, people and systems or an external event. The following are some key types of operational risk…
Click to read more...Managing Operational Risk of Insurance Companies – Part 3
August 13, 2019 7:55 amKey Risk Indicators Key indicator definitions Risk, Control and Performance Indicators are common but distinct metrics used in the industry. All can play a valuable role in the measurement of the risk profile – as long as it is understood that each measures a different aspect of the business process…
Click to read more...Joint study between Hubei University of Economics China and the Institute of Risk Management into the maturity of Risk Management Education in China
August 6, 2019 11:08 amThe Institute of Risk Management (IRM) is delighted to announce the release of a research report undertaken in partnership with Hubei University of Economics in Wuhan, China. The risk management center at the university, led by Distinguished Professor Ming-Che (Martin) Sung, has undertaken a study of risk management education across…
Click to read more...Managing Operational Risk of Insurance Companies – Part 2
July 25, 2019 4:39 amOperational Risk framework To help manage operational risk, insurance companies are increasingly looking to build or modify their existing operational risk management framework. A commonly seen model includes seven components, which are Governance: vision, guiding principles, risk strategy, risk appetite, organization structure, risk glossary Risk assessment and management processes Capital:…
Click to read more...Managing Operational Risk of Insurance Companies – Part 1
July 18, 2019 4:57 amThis article will examine the basics of operational risk management for insurance industry; although definition and the type of operational risks facing financial services companies share similar attributes, insurance industry in Vietnam has been more vulnerable to these than other companies in the financial services sector. We will look at…
Click to read more...Digitalisation: The 4th industrial revolution for risk management
January 19, 2019 4:02 amCyberattacks and data breach are amongst the top threats facing any business – the news is constantly highlighting global organisations (including well known trusted household names) that have suffered attacks at the hands of cyber criminals. Not only does this affect the personal data and credit card details of millions…
Click to read more...Risks from the services provided by third parties – have you had them independently validated? (Part 1)
December 25, 2018 9:56 amIn today’s global economy, business enterprises, the government, and the public are vastly expanding their reliance on automated systems to conduct their daily activities, such as using mobile devices to conduct business meetings across cities or countries, conducting retail merchant and bank activities, buying and selling inventories, controlling government health…
Click to read more...Outsourcing: Impact on a Service Organization
October 31, 2018 9:04 amMany business enterprises today outsource some portion of their business operations or functions to a third-party organization. Common examples include the outsourcing of technology systems, such as IT hosting, and payroll for company employees. In these examples, the business acquiring the services of a third party is called a user…
Click to read more...Is SAM among the top 10 risks that an organization faces?
October 28, 2018 4:38 amOrganizations spend considerable time, effort and cost in identifying, assessing and controlling risks to their business and earnings. Risks could stem from several sources — both internal and external — and include natural disasters, socio-political environment, or business strategy, people, processes and information security. The range is wide. Corporate risk…
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