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Inside Internal Controls

News and discussion on implementing risk management

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mitigating risk

Common sense talk about risk heat maps and more

Only when the business impact is understood does it make sense to get into the details of which risks to which information assets should be mitigated and how.

 

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Why your organization needs a Tax Plan Implementation Review (TPIR)

Board members and senior management are quite familiar with compliance requirements for CEO and CFOs certification and the importance of maintaining strong internal controls over financial results. The certification process extends to internal controls over income taxes balances in the financial statements. For the majority of companies with a well-staffed tax department, monitoring controls remain the strongest control and most frequently used. Senior management is however, frequently unaware of the potentially material risk associated with tax plans implemented in the past; undergoing an annual TPIR assists in mitigating this risk to a manageable level.

 

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Mercer benefits governance survey

Every area of business operations involves some type of risk, which if unchecked can threaten not just that specific area but the entire business. For example, according to Mercer’s…

 

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