About UsThe Decision Factor offers insightful comments and observations on analytics—from views on new technology approaches and market dynamics to the latest industry trends driving demand for faster, smarter information analysis. This blog contains personal views, thoughts, and opinions from SAP employees, mentors, and friends working in the area of analytics. It’s not endorsed by SAP nor does it constitute an official communication of SAP. |
Posted by: Bruce McCuaig April 18, 2013  I am trying to anticipate the impact of in-memory processing on governance, risk, and compliance (GRC) activities. What will it mean to risk, compliance, audit, and other GRC professionals when we have the ability to scan and analyze millions of pieces of data almost instantly? How will professional practices change? How will our reports and their content adapt? How will predictive analytics help us plan?
How Will In Memory Processing Impact GRC?
To get a glimpse of the future of GRC, I think it helps to consider live …
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Posted by: Norman Marks March 14, 2013  Many internal auditor’s want an answer to the question, how do we put a value on internal audit.
Let’s answer another question first: what is the value of a home? The correct answer is that a house is worth what somebody is willing to pay for it.
Now, what is the value of an internal audit function? The correct answer is that it is worth what the board is willing to pay for it.
The value is not some mythical calculation based on the value of process …
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Posted by: Norman Marks May 29, 2012  I have been asked to provide an example of the type of formal report I would provide the audit committee, sharing my overall assessment of the adequacy of governance, risk management, and related internal control processes.
I started providing formal overall assessments about 20 years ago (when I led the internal audit department at Tosco Corporation). But that was limited to whether internal controls provided reasonable assurance that risks were managed effectively. You can see a copy of one of my reports from that era here.
If …
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Posted by: Richard Barrett April 26, 2012 This article originally appeared on CFO Knowledge and has been republished with permission.
Ma ny years ago I once shared an office with group of high-testosterone young management accountants and a solitary middle-aged female internal auditor. She must have dreaded coming to work, not knowing what tales she would over hear from her cubicle in the corner. She was a pleasant enough person, but my suspicion is she was passed over for promotion a few times and put out to grass in internal audit. In my experience, it’s a …
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