Chris 🐝 Guest Cert.Prof.Acc.SA
13/3/2017 · 2 min read · ~100 · 6
Designing an effective Self - Assessment Compliance Program

Designing an effective Self - Assessment Compliance Program

The overridingobjective of an internal self – assessment program is to provide managementwith reasonable assurance that key controls are in place and operating incompliance with their design and intended purpose. The intentionis to ensure a...

🐝 Fatima G. Williams

🐝 Fatima G. Williams

Purpose-driven ” self-assessment program tailored to organization-specific requirements is the need of the hour. Thank you Chris 🐝 Guest Cert.Prof.Acc.SA The flow chart is a circle and should be organized in an innovative way.

28/9/2017
Harvey Lloyd

Harvey Lloyd

On point. I did service several large organizations whereby the systems were seen as constant improvement and they were a part of the process. It was awesome to watch and listen to the employees discuss their enthusiasm within the system.

27/9/2017
Chris 🐝 Guest Cert.Prof.Acc.SA
15/3/2017 · 2 min read · ~100 · 2
Designing an effective corporate Financial Authority Delegation

Designing an effective corporate Financial Authority Delegation

Implementation of a well-managed delegation of authority provides the mechanism to properly regulate key financial transactions within the organization. In considering an appropriate delegation of financial authority framework which is “fit for...

Chris 🐝 Guest Cert.Prof.Acc.SA

Chris 🐝 Guest Cert.Prof.Acc.SA

Thnaks for the comment Harvey Lloyd. An effective internal controls systems ensures that there are strong preventative and detective controls in place to prevent the common "contract splitting" arrangements you allude to. Collective decision making e.g. (Tender Committees) plays a role in operationlizing this. Best practice dictates that no corporate executive (irrespective of seniority) should have authority to award significant value contracts in his own capacity.

27/9/2017
Harvey Lloyd

Harvey Lloyd

First let me state my humility in understanding any corporate governance at this level. I visited the corporate environment for a few years out of High School and realized that the complexity was way to cumbersome for me to live within. The context of this post i generally understand and realize that within large organizations the need for trust and verify is great as we cut across countries, states and people. But humbly i must ask the efficacy of these at the edges of the organization. I can only imagine, like the game of telephone, by the time the policy is enforced in front of the customer it is quite different than intended. I state this only as i have experienced these policies in providing services to large corporations. Contracts over a certain amount went up the chain 1 step while larger ones went up 2 steps. Having a great relationship and quality service my customers would break jobs into smaller jobs and issue multiple contracts to keep the approvals local. WIth another customer i wanted to begin performing services they had written a large contract so strict that only one contractor could get the contract. SO i have seen the end result of these policies that in theory should work, but in the field adaptation tends to subvert the process. In most cases to the benefit of the organization. The main thing i saw benefit in the policies was if someone was to subvert the system they took the risk of failure with whomever they made the agreement. Getting caught would mean termination without question. So the risk insured compliance to success and not just buttering up pockets, in most cases.

27/9/2017
Chris 🐝 Guest Cert.Prof.Acc.SA
13/3/2017 · 2 min read · ~100 · 2
 Effective Integration of Risk and Compliance Programs

Effective Integration of Risk and Compliance Programs

Integrating the key principles of risk and compliance management is key to ensuring a seamless governance, risk and compliance framework. The organizational structure and reporting lines of the risk and compliance functions invariably differ from...

David Navarro López

David Navarro López

Thank you Chris for calling my attention to this buzz. Unfortunately, I am not familiar with this kind of risks, but with the ones which have to do with personal risks, like possibles injuries on working environment. On this matter, I have seen many evaluations/action plans which use to fail always due to the human factor. If common sense is not added, people always find a way to make it wrong. I suppose in accounting it happens the same. Sorry for not being more helpful this time.

28/9/2017
Chris 🐝 Guest Cert.Prof.Acc.SA

Chris 🐝 Guest Cert.Prof.Acc.SA

Indeed there is a hierarchy of risk: Strategic - tactical - operational levels. Scalability of consequence/impact can be implemented to manage appropriately. - e.g. the risk assessment matrix for large capital projects would contain escalated dimensions as opposed to those used to assess and measure risk for operations.

27/9/2017
Chris 🐝 Guest Cert.Prof.Acc.SA
7/5/2017 · 2 min read · ~100 · 6
Phil 🐝 Johnson, MBL and Brand Ambassador @beBee
The Backfire Effect … Our Refusal To Know

The Backfire Effect … Our Refusal To Know

The psychologybehind why we have a hard time changing our minds. The Backfire Effect occurs when, in the faceof contradictory evidence, established beliefs do not change but actually get stronger. Challenges to our core beliefsoften backfire....

Aaron 🐝 Skogen

Aaron 🐝 Skogen

Thank you so much for the tag and leading me to this buzz siraj shaik!

18/9/2017
Aaron 🐝 Skogen

Aaron 🐝 Skogen

A very thoughtful post indeed Phil 🐝 Johnson, MBL and Brand Ambassador @beBee. Its amazing that which can take years to build can collapse with one mistake. Trust is indeed something that is granted to us by others, in my option its granted by following through on our words with action. Words alone are not enough, action must follow. Do what you say you will do, right? YOU nailed it with this Phil, "We burn trust 7X faster than we can earn trust. That means is if our walls are up just 15% of the time we are damaging the very relationships we are trying to nurture." Well said sir!

18/9/2017

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