The modern supply chain is a bit of a trapeze act: complex, requiring precision and potentially devastating if things go wrong. Pete Rau of EcoVadis invites companies to return to basics — it all starts with procurement. Supply chain and supply chain risk have become household names within the past few years, especially relating to social and environmental crises. For...
The consulting industry has enjoyed decades of light regulation, which has sometimes meant a hands-off risk posture inside firms. But as Intapp’s Nigel Riley explores, that’s all changing — and fast. In an unregulated industry without mandates to collect and manage client data, consulting firms have historically taken a different approach to risk management than their peers in regulated industries...
Doing business online allows companies to reach exponentially more customers than could otherwise. But the complexity of transfer pricing means they may open themselves to exponentially more risk, including running afoul of emerging global regulations. Transfer pricing specialist David Whitmer explains. Transfer pricing has long been a challenging issue for multinational entities (MNEs) with operations and sales spanning multiple jurisdictions...
This year has already seen four bank failures, starting with the spectacular collapse of Silicon Valley Bank in March, and the latest domino to fall was a Midwestern regional bank. The total number of bank failures this year meets the mark for the highest number of bank failures since 2020 — and the year’s not out yet. Financial services consultant...
In the nearly six months since the failure of Silicon Valley Bank (SVB), three others have gone belly-up, the most recent of which was just last month. While many have focused on the risk-related causes of SVB’s failure and the lessons one could draw from it, Riskonnect CEO Jim Wetekamp shines a light on a less-discussed angle: business continuity. The...
Financial services companies, at a heightened risk of payment-related fraud due to the nature of their services, are also at an elevated risk of layoffs so far in 2023. Baptiste Collot, CEO of Trustpair, warns against letting leaner teams fall victim to the risk of payment fraud. The overall economic outlook of the U.S. may have improved since early in...
Disaster doesn’t come in one shape. From pandemics to extreme weather to cyber attacks, effective business continuity and disaster planning is a modern problem that requires modern solutions, says Chris Axton, director of business continuity at b1BANK. If the past few years have felt like one crisis after another, you are not alone. The pandemic, inflation, Russia’s invasion of Ukraine...
Mergers and acquisitions have always been influenced by market conditions, and the current landscape is no exception. While uncertainty and market volatility tend to slow down M&A activity, these headwinds can also present attractive valuations and opportunities for strategic deals. This double-edged sword has Prodinity’s Theunis Viljoen optimistic about the M&A prospects for the remainder of the year, with one...
The 2020s are well on their way to earning the dubious distinction of being a volatile, disruptive period, but there remain viable opportunities amid the challenges. How do organizations sustain themselves during such unpredictable times? Protiviti’s Jim DeLoach explores the questions around our chaotic moment. A global survey of about 1,500 corporate directors released last year found that directors “are...
Compliance departments are certainly familiar with in-office safety training, but what about when the office doesn’t exist yet? The construction industry, while a hot job market at the moment, has one unfortunately common risk: worksite injuries and even deaths. Bradley M. Sussman and Christopher Ward of K2 Integrity explore what owners and developers need to know about worker safety and...
UK lawmakers are considering sweeping changes to the so-called identification principle, which makes prosecuting corporate crimes notoriously difficult. Economic crime lawyer Lloydette Bai-Marrow explores what the changes would look like in practice — if they make it into law. The identification principle as established by the 1971 case of Tesco v Nattrass has been a proverbial thorn in the side...
What are the top liability risks for professionals like consultants, auditors and lawyers? Professional Insurance Claims Insights 2023 Building Safety, Cybercrime Biggest Professional Indemnity Risks About this report from Allianz: Architects and engineers face greater scrutiny over building and fire safety defects. Financial services professionals may be accused of mismanaging investment funds negatively impacted by inflation. A lawyer’s untrained use...
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