The European Union’s AI Act, first proposed by the European Commission in 2021, is characterized by a “risk-based approach.” This approach, favored in various EU regulation… Read More

The modern business landscape heavily relies on partnerships with third parties. Organizations depend on external suppliers, service providers, and vendors to achieve their objectives and sa… Read More

When you onboard a third-party service, you introduce risk into your organization. This process is complicated because traditional risk identification and due diligence practices often fail… Read More

In an era where third-party security and data breaches frequently make headlines, the importance of robust Third-Party Risk Management (TPRM) cannot be overstated. Incidents involving SolarW… Read More

Cybersecurity incidents can have far-reaching implications for businesses worldwide. The recent incident involving CrowdStrike, a leading cybersecurity firm, highlights critical gaps in busi… Read More

Artificial Intelligence (AI) has become an increasingly integral part of today’s software applications, revolutionizing fields with its capabilities in predictive analytics, personaliz… Read More

Bias is an intrinsic part of human decision-making. Whether it’s intentional or unintentional, there is always an element of subjectivity in our choices. Therefore, machine learning (M… Read More

Models play a critical role in the financial sector, guiding institutions in evaluating asset performance, forecasting future investment values, and making sound business decisions. As trans… Read More

In today’s interconnected business landscape, third-party risk management (TPRM) has emerged as a critical area of focus. Organizations rely on a vast network of suppliers, contractors… Read More

As the second quarter of the year progresses, the banking sector is increasingly adopting advanced technologies to streamline services and enhance security for both employees and customers… Read More

The foundation of internal controls within organizations is firmly rooted in the COSO Model, developed by the Committee of Sponsoring Organizations of the Treadway Commission in 1992. This m… Read More

Internal controls are critical processes and policies that help small businesses secure their systems and data. While often associated with large companies, small businesses have every reaso… Read More

Internal controls form the backbone of an organization’s security framework. These measures are essential for creating, securing, and achieving various operational, financial, legal, a… Read More

Internal controls are essential for any business, providing the necessary framework to ensure that information—whether financial, operational, or otherwise—is accurate and up-to… Read More

In today’s interconnected business environment, the reliance on third-party vendors is a common practice, but it introduces significant risks. Integrating internal controls with third… Read More

Introduction The landscape of internal controls in businesses is evolving rapidly, thanks to the advent of generative AI. This technology, capable of producing text, images, code, and mor… Read More

As generative AI technology continues to advance, it holds the potential to revolutionize various aspects of our lives, particularly in the realms of learning and work. This powerful technol… Read More

Introduction In 2024, regulators are increasingly vigilant about the model risks faced by financial institutions. This heightened scrutiny is driven by several high-profile failures, incl… Read More

Introduction The Prudential Regulation Authority (PRA) has issued its much-anticipated Policy Statement (PS6/23) on Model Risk Management (MRM). Accompanied by the Supervisory Statement (… Read More

Artificial intelligence (AI) and machine learning (ML) models have become indispensable tools in modern business, offering the potential to solve complex problems and drive innovation. Howev… Read More

Effective internal controls are a must-have for any business. Organizations rely on accurate information, financial, operational or otherwise, to set their future strategy. Internal control… Read More

Understanding the Breadth and Impact of Internal Controls While the term “internal controls” is often associated with financial reporting and internal audits, their influence… Read More

In the evolving landscape of corporate responsibility, environmental, social, and governance (ESG) initiatives are increasingly becoming pivotal to modern business strategies. Amid growing r… Read More

The significance of robust internal controls cannot be overstated. These mechanisms are fundamental to ensuring the integrity of financial statements, promoting ethical values, and driving t… Read More

In many organizations, the task of implementing and maintaining internal controls can often be viewed as tedious and relegated to the bottom of the to-do list. This oversight, however, negle… Read More

Internal controls are pivotal in mitigating risks. These controls, whether simple or intricate, serve to prevent, detect, and address various potential threats. A relatable everyday example… Read More

Internal controls are not just a regulatory requirement but a cornerstone of effective governance. According to a survey by the Association of Chartered Certified Accountants, the importance… Read More

Introduction to Internal Controls Internal controls are essentially the backbone of a company’s financial and operational integrity, involving a set of processes and protocols desig… Read More

The importance of robust internal controls cannot be overstated. Internal controls are systematic measures implemented by organizations to ensure operational efficiency, reliable financial r… Read More

The landscape of corporate reporting on sustainability and ethics is poised for significant transformation with the shift from the Non-Financial Reporting Directive (NFRD) to the more robust… Read More

In an era where sustainability is increasingly at the forefront of corporate agendas, the Corporate Sustainability Reporting Directive (CSRD) represents a pivotal shift in how businesses are… Read More

In the evolving landscape of corporate responsibility, the European Union has taken decisive steps to enhance transparency and accountability in sustainability reporting. The introduction of… Read More

In the evolving landscape of global business, the Corporate Sustainability Reporting Directive (CSRD) represents a significant shift towards transparency and accountability in environmental… Read More

Introduction On November 28, the European Parliament and Council marked a significant milestone in the global sustainability movement by approving the Corporate Sustainability Reporting D… Read More

Introduction to the SEC’s New Proposal and Its Impact on ESG Reporting As the recent comment period for the Securities and Exchange Commission’s (SEC) disclosure proposal conc… Read More

Introduction to ESG In recent years, Environmental, Social, and Governance (ESG) criteria have become a pivotal aspect of corporate strategy, prominently featured in discussions among inv… Read More

In today’s business environment, the integration of Environmental, Social, and Governance (ESG) principles has become more than just a trend—it’s a foundational element for… Read More

In the complex world of today’s business operations, managing supply chain risks remains an understated yet critical aspect of organizational resilience. The example of last year&rsquo… Read More

Heightened Alert from NCSC In April, the National Cyber Security Centre (NCSC) of the UK issued a significant threat alert, underscoring an uptick in cyber threats from state-sponsored ac… Read More

In today’s interconnected business environment, the security of organizational supply chains is more critical than ever. Recent studies underscore the vulnerability of these supply cha… Read More

In today’s interconnected business world, as companies grow and their networks of third-party vendors expand, managing the security and stability of these external relationships become… Read More

In today’s rapidly evolving financial landscape, firms are confronted with a slew of challenges that test their resilience and adaptability. The intersection of economic volatility, po… Read More

The evolution of artificial intelligence (AI) and machine learning has brought about transformative changes across various industries, offering unparalleled efficiencies and capabilities. Ho… Read More

In the rapidly evolving financial services industry, Model Risk Management (MRM) has emerged as a critical area of focus for institutions aiming to safeguard their operations and ensure regu… Read More

In recent years, the financial sector has seen a notable increase in the use and complexity of models designed to optimize operations, manage risks, and drive strategic decisions. This trend… Read More

Dover, Del., 10 April 2024 – Ernst & Young LLP (EY), a global leader in assurance, tax, transaction, and advisory services, is thrilled to announce a pioneering partnership with Em… Read More

In today’s interconnected business landscape, the practice of outsourcing production or services has become a staple for enterprises seeking to leverage specialized skills and cost eff… Read More

Third-party relationships are not just a convenience; they are a necessity. From cloud service providers to supply chain partners, third-party vendors play a pivotal role in the operations o… Read More

In the ever-expanding digital marketplace, the practice of Vendor Risk Management (VRM) has evolved from a simple check-list task to a complex and strategic imperative for businesses aiming… Read More

In the ever-evolving landscape of finance and banking, the specter of economic downturns looms large, presenting a challenge that institutions must navigate with foresight and strategy. The… Read More

The strategic integration of a robust vendor management program within financial institutions has become paramount. As organizations increasingly rely on a diverse ecosystem of third-party v… Read More

In the pantheon of modern corporate nightmares, the story of Morgan Stanley’s vendor management debacle stands as a stark reminder of the critical importance of robust vendor oversight… Read More

In recent years, Environmental, Social, and Governance (ESG) considerations have become central to the strategic planning and operations of many organizations, reflecting a growing awareness… Read More

In the increasingly complex ecosystem of financial institutions, the prudent management of vendor relationships is not merely an operational necessity but a strategic imperative. With signif… Read More

In the current global business landscape, organizations frequently extend their operations beyond their local boundaries, engaging with a diverse array of third-party suppliers, vendors, and… Read More

In an era where ethical practices and sustainability are at the forefront of consumer minds, organizations worldwide are under increased scrutiny to ensure their supply chains uphold human r… Read More

Advisory firms are constantly on the lookout for innovative solutions to enhance their Governance, Risk Management, and Compliance (GRC) methodologies. The integration of technology into the… Read More

In today’s interconnected business landscape, understanding and managing vendor risk transcends the immediate sphere of third-party relationships to include a much broader and complex… Read More

In today’s business landscape, the call for greater corporate accountability, sustainability, and transparency has never been louder. Stakeholders across the board—consumers, emp… Read More

In the rapidly evolving landscape of the global marketplace, the efficiency and reliability of the supply chain have become foundational to business success. As companies increasingly rely o… Read More

In March 2022, a pivotal shift occurred in the regulatory landscape for financial institutions in the UK, orchestrated by the Bank of England’s Prudential Regulation Authority (PRA). T… Read More

In a landmark move, the European Parliament has recently given the green light to one of the pioneering regulations dedicated to the governance of Artificial Intelligence (AI) on a global sc… Read More

Introduction to IT Risk Management in 2023 In 2023, IT risk management is not just a fancy term but a critical strategy that keeps businesses afloat in a sea of digital threats. At its core… Read More

Introduction to Risk Mitigation in Today’s World Risk mitigation isn’t just a fancy term tossed around in boardrooms; it’s a critical strategy businesses use to deal with t… Read More

In the modern business landscape, organizations increasingly rely on a complex network of third-party suppliers, vendors, and partners, which span various geographies, each governed by its o… Read More

Organizations are constantly seeking strategies to navigate through economic uncertainties. The drive to enhance operational efficiencies and reduce costs has led many companies to re-evalua… Read More

The conversation around regulating artificial intelligence (AI) technology is gaining momentum worldwide. Countries such as the United States, the United Kingdom, the European Union, and Can… Read More

In today’s interconnected business world, third-party relationships are not just common; they are essential. Companies across industries rely on a wide array of external entities &ndas… Read More

The significance of managing the risks posed by external vendors and suppliers cannot be overstated. As organizations increasingly rely on third parties for essential services, the necessity… Read More

Understanding ESG Reporting: What It Is and Why It Matters ESG reporting stands for Environmental, Social, and Governance reporting. Here’s the deal: it’s all about companies bei… Read More

Understanding ESG Reporting in the UK: An Introduction ESG stands for Environmental, Social, and Governance, and it’s all about how a company operates within these three key areas. In… Read More

Introduction to Third-Party Risk in Supply Chains Every London company relies on a network of suppliers, vendors, and partners. These third parties keep your business running smoothly by pro… Read More

A Vendor Risk Management (VRM) program helps companies identify, assess, and mitigate the risks associated with their third-party vendors. The process of implementing a VRM program can be co… Read More

Managing vendor risk has become a critical aspect of organizational risk management strategies. Companies are increasingly dependent on a wide array of vendors for their products, services… Read More

In today’s rapidly evolving business environment, where technology and external partnerships are increasingly integral to operations, managing risk has become a multifaceted challenge… Read More

In the modern business environment, the complexity and interconnectedness of operations often necessitate partnerships with third-party vendors. These relationships, while beneficial in boos… Read More

Understanding Compliance Audit: An Overview for London Businesses Compliance audits can seem intimidating, but they’re just a systematic review of how well your business sticks to the… Read More

In the world of business, just like in personal relationships, imperfections and challenges are inevitable. While many of us might have honed our skills in resolving conflicts within friends… Read More

On October 26, 2023, the United Kingdom marked a significant milestone in its ongoing battle against economic crimes and the pursuit of corporate transparency with the passage of the Economi… Read More

In the complex ecosystem of modern business, the path to success is multifaceted, weaving through various departments and functions essential for organizational growth and stability. Among t… Read More

The General Data Protection Regulation (GDPR) has been a cornerstone of data protection legislation, offering a comprehensive set of principles and obligations aimed at safeguarding personal… Read More

In today’s complex regulatory environment, businesses are under increasing pressure to ensure they comply with a myriad of industry standards and regulations. The thought of undergoing… Read More

In today’s digital age, the automation of security risk assessments stands as a cornerstone of a comprehensive cybersecurity strategy. With the complexity and frequency of cyber threat… Read More

Introduction to GRC Programs in the London Business Landscape GRC stands for Governance, Risk Management, and Compliance, and it’s a big deal for London businesses looking to stay on t… Read More

Understanding Enterprise Risk Management (ERM) Enterprise Risk Management, or ERM for short, isn’t just a fancy term—it’s a crucial strategy for any business. Think of ERM… Read More

In the complex and tightly regulated world of finance, the Office of the Comptroller of the Currency (OCC) plays a pivotal role in maintaining the stability and integrity of the financial sy… Read More

The selection and application of tools and methodologies for conveying critical information significantly influence the strategic decisions that shape organizational directions and mitigate… Read More

Geopolitical risk management within the context of third-party risk management (TPRM) is an increasingly critical area for global businesses navigating the complex and interconnected world e… Read More

The supply chain is undeniably the lifeline of any business, ensuring that products move from conception through production to the consumer’s hands. Yet, this intricate network is frau… Read More

In the complex and ever-evolving landscape of business operations, managing risks is an essential part of ensuring stability and success. While organizations often have frameworks in place t… Read More

In today’s complex global economy, the ability to manage supply chain risks effectively is a critical competency for organizations aiming to ensure operational continuity, maintain com… Read More

In the intricate web of global commerce, the last decade has witnessed a series of high-stakes dramas unfold, striking at the heart of organizations across a broad spectrum of industries. Fr… Read More

In the intricate web of modern business operations, onboarding vendors and understanding their associated risks are pivotal elements of comprehensive third-party risk management. The complex… Read More

The interconnected nature of global business has illuminated the extensive risks through these connections. High-profile security and data breaches involving third parties—such as Sola… Read More

DOVER, Del. – 2 February 2024 – Empowered Systems, a leading provider of Enterprise Risk Management (ERM) solutions through its Connected Risk® platform, is thrilled to annou… Read More

DOVER, DEL. – Empowered Systems, a pioneer in integrated Environmental, Social, and Governance (ESG) solutions, is thrilled to announce a strategic partnership with Greenly, a leader i… Read More

In the dynamic world of business management, understanding the interplay between governance, risk, and compliance (GRC) and performance management is essential, yet it’s a concept that… Read More

In today’s rapidly changing business environment, compliance stands as a crucial determinant of an organization’s trajectory towards either prosperity or peril. Despite its criti… Read More

Introduction In the dynamic landscape of technological evolution, ChatGPT stands out as a remarkable development, signifying a significant leap in the realm of artificial intelligence (AI… Read More

In today’s rapidly changing business landscape, the role of internal audit is more critical than ever. Occupying a unique position with a broad view across all business functions and m… Read More