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October 26, 2007

THIS ISSUE'S THEME:
Risk Management


New challenges for internal audit: Business and operational risks

Internal audit departments are in the middle of "an evolutionary transition" facing great opportunity and challenges, according to Ernst & Young's 2007 Global Internal Audit Survey, which analyzes current developments and identifies future trends and leading practices based on findings from a survey of Internal Audit directors of 138 predominantly public companies.

Global Risk Management survey reveals some multinationals not ready for risk

Multinational corporations are facing increasingly diverse, complex and exotic risks, and may not have all the resources in place to manage them effectively, according to Aon's first Global Risk Management Survey.

Risky business: Facing adversity and riding the storm

Noah's Ark is the oldest example of a contingency plan, described in the Hebrew Scriptures as a great boat designed to save Noah, his family, and a fair few animals from the great flood. It's nothing new, therefore, to plan for the unexpected whether that is natural or man-made disasters.

IT risks rising up audit committee agendas

Research by KPMG's Audit Committee Institute among over 1,300 audit committee members in 25 countries around the world has found that nearly a third (30 percent) are not satisfied that their committee spends sufficient time looking at IT risk issues, with a further 59 percent only "somewhat" satisfied.

Businesses protected from financial loss with professional liability insurance

A separate coverage can be added to existing insurance policies that protects professionals in the event of a client's claim that they have suffered a financial loss as the result of an error or omission that was committed by a company while performing and delivering their professional services.

Editor's Note

For this issue of the Bi-Weekly Bullet, we have decided to take a look at risk management. Several recent studies and reports indicate that there is much that can be done to prepare companies and employees for the potentiality of risk. In addition, we have a related broadcast for you from the Small Business Trends Radio. Please take the time to listen to this hour-long, downloadable program: "Ensuring the safety and productivity of your employees," provides useful tips for keeping your employees out of harms way while keeping the workflow going smoothly.

Access the download from this article

Gail Perry
Editor
editor@accountingweb.com

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