- Since the Committee of Sponsoring Organizations (COSO) issued its Internal Control — Integrated Framework (2013 Framework) in May 2013, many organizations have implemented the new framework to comply with the initial December 15, 2014 transition deadline. The 2013 Framework requires management to assess whether 17 principles are present and functioning, which is a change from the previous framework. Further, the 2013 Framework includes points of focus, which are important characteristics of the 17 principles and assist management with determining whether controls are properly present and functioning.
- The heightened complexity of vendor risk management for US banks was evident at a conference sponsored by Marcus Evans in Chicago on June 3-4. Need for resources, maintaining oversight, and how organizations are managing the process internally were all hot topics of conversation.
- Market research helps boards to make strategic organizational decisions within their senior living communities. Market research specialist, Beverly Asper, discusses examples and explains why more and more boards are turning to market research.
- The US Department of Labor (DOL) issued a report on its inspection of 2011 employee benefit plan audits, Assessing the Quality of Employee Benefit Plan Audits. The report is quite troubling as the DOL found a deficiency rate that is too high for such an important element of the system to protect participants in employee benefit plans.
- Recent activity by regulators shows an increased focus on cybersecurity in the insurance industry. The National Association of Insurance Commissioners (NAIC) has published its Principles for Effective Cybersecurity Insurance Regulatory Guidance. In addition, the New York Department of Financial Services (NY DFS) recently released guidance for New York insurance organizations with their Report on Cybersecurity in the Insurance Sector.
- Previous Next