Newsletter | Volume 1

Defending Nordic Organisations against Bribery, Fraud, Corruption and Unethical Behaviour
The consequence of globalisation and oversight controls, bribery, fraud, corruption, (BFC) ethics, integrity and wrong behavioural issues, have 'spun' into loads of checklists and check-the-box exercises, without actually achieving real value to the business, transactions or corporate culture.
The Right Road and the Right Direction to address duplication, integration, automation and streamlining of GRC issues
Instead of piecemeal consultancy solutions that put off fires, we suggest preparing a 3-5 year plan with structured priorities on how to document, simplify and address the duplication, integration, and automation issues. After the initial assessment, management is ready to implement the next generation of mainstream IT solutions without hiring dozens of CxO or consultants.
The Governance of an Exit. Corporate lessons from the Brexit referendum
A referendum is an irreversible single-point instrument that disrupts the balance and controls of checks and balance. The crucial issue is how questions are formed. It is not fair to ask voters if they want lower taxes, higher welfare spending and balanced budgets. The reply will be "yes" to all three questions, even though rational reasons must avoid all three at the same time. Balancing the issues is fundamental to financial decision-making. However, the referendum is not the right tool to achieve this.
PostBrexit Uncertainty On Financial Regulation
What is the scope of the possible damage Brexit will do to the planned capital markets' union?
What are the current Compliance concerns on the Market Abuse Regulation (MAR)
Will the overreach of the post-crisis financial regulation continue to have an adverse impact on growth?

The New Audit Committee Stewardship Framework (Part I of II)
When things go wrong in a company, it is often due to lack of adherence, monitoring and independent assurance of right governance processes in the organisation. One of the primary reasons when management, the chairman or the audit committee member is forced to say; 'we were not aware' is often due to the undermining of trust in the financial accounts, culture and the GRC activities to obtain confidence in the performance. Management tools like the 'whistle-blower' function, 'compliance' and 'tone-of-the-top' are valuable however in this article we focus on the role and responsibility of the audit committee to avoid a corporate failure.
The New Audit Committee Stewardship Framework (Part II of II)
The updated central role of the Audit Committee goes beyond enhancing the audit quality and building confidence in the integrity of financial disclosures. The new stewardship role of the audit committee will be critical in creating the right environment for corporate performance including the board's responsibility to create a platform of the business culture of integrity, respect, accountability and transparency. Audit committees must develop an audit strategy, to address significant audit risks, appropriate independence and effectiveness of the external auditor.
How to solve the new audit committee mandates and responsibilities
The audit committee is a cornerstone of the board of director's duties. Its mandate now extends well beyond the oversight of financial reporting and includes key areas that determine the organisation's performance, risk management, compliance, accountability, the integrity of quality data, cyber risk, and the effectiveness of internal control over operations. The long list of oversight responsibilities gets more complicated because the amount of time the audit committee members can commit is often the same.

Addressing the global money-laundering or terrorist financing risks by global utilities and databases
Oversight authorities, central bankers and organisations are concerned that AML and KYC mandates and trends are fragmenting the global financial system by excluding non-savvy IT people, and underdeveloped countries are excluded from the benefits of cross-border payments, particularly when remittances are a significant portion of a nation's economy.
If culture cannot come to Risk Management, then Risk Management must come to rescue corporate culture. Part II of III
It is highly recommendable that all organisations focus on developing a robust corporate culture platform to create and promote shared values, increased profits and good governance. To support the articles focus on Risks, management has to recognise the link and references to strategic risk management (SRM) and enterprise risks (ERM). We suggest a disruption journey by combining ERM disciplines to SRM processes to identifying and address those risks that threaten growth.

Compliance costs continue, and the fragmented approach to Compliance must discontinue. RegComTech® provides the answer
The RegComTech® business application agenda is to customise the technology developments. RegComTech® addresses the duplication, integration, automation and streamlining issues, desired to address the mainstream next generation regulatory compliance components of Governance, Risk Intelligence, Compliance and IT-Security.
Regcomtech® Is The New Technology With Potential For Great Compliance Rewards
Disruption is exploitation plus exploration. In this article, we suggest that just like the implementation of Governance, Risk Management, Compliance or IT Security (GRC) structure is a journey, both for the customer as well as the vendor. The journey starts where customers buy goods and services from the supplier to solve a problem. The vendor then stretches the product to generate more income or appeals to install more systems and e.g. links GRC services to products, a method that is made easier by the internet of things. The journey has then started for mutual growth and profits.
Lack of Change Procedures Is Often the Key to a Failed IT Implementation
Change management is a structured approach aiming to alter processes, procedures, methodologies and in individuals, teams, IT and organisations from a current state to the desired future state by reshaping the application of business operation/process, resources and budget allocations. Organisation must include the activity in a statement, stipulating those who are impacted, how to take action to be on the right path and define the change process. A comprehensive guidance for achieving this 'change' vision so that the change effort is successful and must be readily available.