NSAC Happenings and Latest News - Page 100
COSO Releases Updated Enterprise Risk Management Framework
The Committee of Sponsoring Organizations of the Treadway Commission released a long-awaited update Wednesday to its ERM Framework: Enterprise Risk Management–Integrating with Strategy and Performance, the first since 2004. The updated framework, developed by PricewaterhouseCoopers under the direction of the COSO board, aims to help organizations improve their approach to managing risk. COSO is also responsible for the recently ...
Read More3 Steps To Protecting Your Business From Workplace Fraud
Every few months, a major fraud investigation hits the news. According to a new report titled Keeping Business Clean: A CGMA Guide to Countering Fraud & Corruption by the Association of International Certified Professional Accountants, despite awareness movements and advances in legislation, fraud and corruption continue to plague businesses. The World Economic Forum estimates that the typical organization can lose an ...
Read MoreCompanies shouldn't rush to adopt new hedge accounting standard
The Financial Accounting Standards Board released its long-awaited hedge accounting standard this week, but companies may want to be careful about adopting it early, or else they could miss out on some one-time benefits. The accounting standards update for hedging takes effect for public companies in 2019 and private companies in 2020. But FASB is also allowing early adoption for companies if they want to begin using it right ...
Read MoreEmbezzlement by Employees
In the cult film "Office Space", workers at a technology company seek revenge for boring jobs and bad treatment by ripping off their employer via software that skims fractions of pennies with each transaction. Hilarity, guilt and accidental redemption ensue as the main character ultimately prepares to confess. Such pennies, in a real-world scenario, can add up more and over longer stretches of time than most employers imagine, according ...
Read MoreHow to Make a Professional Apology
Professional apologies are necessary—and sometimes complicated. It happens to everyone sooner or later. You forget to return an email. You snap at a co-worker. You are rude to a client. Someday you'll do something that affects a business relationship, and your response could impact your career or your firm. The question is, what will you do about it when the time comes? The most important action is generally to swallow your ...
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