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Join our Franchise Programme GRC Controllers are now offering business opportunities in consulting, training and compliance products for regional European countries as part of our GRC franchise programme. We seek entrepreneurs and motivated compliance professionals. We will provide the entire range of GRC tools and templates to individuals and/or companies who are looking for the opportunity of running and developing their own GRC compliance consultancy with the support of GRC Controllers and our Compliance Product division. Click here to register your interest. Eurosox talk in Oslo Managing partner Kersi Porbunderwalla gave a talk about the implications of Eurosox for Norwegian companies in Oslo 14.2.2007. We encourage you to download the invitation (61 KB, PDF) and the presentation (344 KB, PDF). Both files are in Norwegian. Company profile You can read more about us here and get an overview of our related sites here. Memberships We are are proud to a member of the Association of Certified Fraud Examiners   |
Benefits of Effective Risk Management
A well structured risk-assessment program helps your company understand and stay within the acceptable boundaries of corporate conduct—both the mandated laws, rules, and regulations; and voluntary values, agreements, and other social obligations. When properly implemented the benefits of effective risk management go way beyond just satisfying legal and regulatory requirements. An effective risk-management program must promote;
Further more the benefits can be detected in the following areas: Fewer Surprises — Proactive identification and management of key risks reduces earnings fluctuations and increases stakeholder confidence. Reduced Loss and Increased Reward — Risk management helps to reduce the likelihood of and loss from negative events & helps to take advantage of opportunities that otherwise go unseen. Effective Decision-Making — Better decisions are made when a structured consideration of risk is built into existing activities. Make risk management an inherent part of thedecision-making processes. Improved Corporate Governance — Solid risk management and well-defined reporting and communication protocols, help an organization fulfil expectations of key stakeholders and comply with regulatory requirements. External Risk Scrutiny and Benefits Capital markets are paying closer attention to how companies manage risk. It is firmly believed that effective risk management leads to less uncertainty around the achievement of business objectives and increases the benefits for the organization's stakeholders. Investors are willing to pay a premium for effective risk management—According to a 2006 survey of 138 of the world’s largest institutional investors, 82 percent of those surveyed reported that they were consistently willing to pay a premium on per-share prices for companies following effective risk-management practices. Ratings agencies are increasing their focus on risk management—Agencies such as Standard & Poor’s and Moody’s have expanded their analysis within some regulated industries to include factors zeroing in on risk management. This analysis as a precedent will probably be applied across all industries. Therefore highlight the company’s risk-management capability in discussions with creditors and ratings agencies. These discussions helped the company to improve its bond rating. The key here is the ability to communicate your risk-management approach. |
   A journey in good corporate governance On November 2, 2007, Børsen, a Danish daily newspaper, published an article entitled En rejse i god selskabsledelse af Kersi Porbunderwalla. What does an IT manager need to know about GRC? At the IDC IT Security conference in Copenhagen 25. September, Kersi Porbunderwalla from Controllers Aps gave a presentation about what an IT Manager needs to know about Governance, Risk and Compliance. GRC Checklists An effective compliance program has to be consistent with the size, complexity, range of operation and organization of a company. A one-size-fits-all or a top-down check list approach, that treats all Governance, Risks or Compliance (GRC) issues as being equal, is not a solution. The checklists are designed only to provide indications that a "canaries in a coal mine" does. Please feel free to download our checklists for improving Corporate Governance policies, conducting Risk Assessment based on COSO definitions, and implementing Compliance activities in your company. EuroSox: A Brief Overview EuroSox is the nickname of a set of EU directives that corresponds to the American Sarbanes-Oxley (SOX) Act. A supplement to the overview is available here. Will EuroSox also be a regulatory overreach? Managing partner in GRC Controllers, Kersi F. Porbunderwalla, will be presenting the paper "Will EuroSox also be a regulatory overreach, as its American counterpart SOX?" at the Winter 2008 Hawaii Global Conference on Business and Finance. The conference will be held January 9-12, 2008 at the Sheraton Waikiki Hotel, Honolulu, Hawaii. An abstract of the paper is available here. Additional information about the conference is available here. |