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Year in Review: Key Trends in Critical Event Management

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In the corporate sphere, retail giants responded with strategic investments in resilient infrastructure and diversification of supply chains to adapt to climate change impacts. Organizations will conduct thorough risk assessments and audits to identify and mitigate vulnerabilities within their supply chains.

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IRM, ERM, and GRC: Is There a Difference?

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For example, retail is now “e-tail,” manufacturing plants are increasingly automated, and nearly every step of the hiring and contracting process happens online, from application to background checks to payroll. The advent of the digital age is partly to blame. Rasmussen sees the GRC development timeline as follows: GRC 1.0

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What is Vendor Risk Management (VRM)? The Definitive Guide

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Evidence may include compliance certifications, penetration test reports, financial information, and on-site audits. For example, the Health Insurance Portability and Accountability Act (HIPAA) and the Payment Card Industry Data Security Standard (PCI DSS) , among others, require vendor compliance. Conduct vendor audits.

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Choosing a Governance Risk and Compliance Tool: Constant Vigilance

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It also helps align internal audit, external audit, and compliance functions. In the modern business landscape, organizations in every industry must manage auditing, risk assessments, compliance, vendor assessments, cybersecurity threats, and disaster recovery. Audit management. What Are the Benefits of Using a GRC Tool?

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Strategies for Digital Risk Protection

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Workflow management features offer easy tracking, automated reminders, and audit trails. Each new online connection, however, increases an organization’s attack surface, making it more likely that the company will be hacked. Insightful reporting and dashboards provide visibility to gaps and high-risk areas.

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Internal Controls & Fraud Prevention

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Internal Audits. Solid internal audit procedures limit the risk of fraud. Along with management reviews, internal audits are critical to assess existing anti-fraud controls and assure they remain effective and up-to-date. External Audits. It is a single source of truth that ensures your organization is always audit-ready.

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What Does a Compliance Management System Look Like?

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The Federal Deposit Insurance Corp. Regular audits of the compliance program. Compliance Audit. In addition to internal audits and supervision, this committee contributes to developing a compliance culture. Surveillance and Audits. Additionally, periodic audits are mandated by compliance frameworks.