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Business Process Management |
SOX compliance |
Compliance Officers |
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Process-based compliance management
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bpm technology, bpm application, service oriented architecture, bpm evolution, bpm platform, business process management, business process, bpm,
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IT Products
Functional Area : Business Processes |
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About "Process-based compliance management" topic:
Compliance is a critical enterprise management concern, particularly in business process-oriented organizations. Share your views on compliance modeling and enforcement.
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on topic: "Process-based compliance management"
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The most contentious aspect of SOX is Section 404, which requires management and the external auditor to report on the adequacy of the company's internal control over financial reporting (ICFR). This is the most costly aspect of the legislation for companies to implement, as documenting and testing important financial manual and automated controls requires enormous effort. Under Section 404 of the Act, management is required to produce an “internal control report” as part of each annual Exchange Act report. See 15 U.S.C. § 7262. The report must affirm “the responsibility of management for establishing and maintaining an adequate internal control structure and procedures for financial report...
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The underlying aim of Basel II is to promote safety and soundness in the financial system by allocating capital in organisations to reflect risk more accurately. This can be attained only by the combination of effective bank-level management, market discipline and supervision. Basel II will impact the entire spectrum of banking, including corporate finance, retail banking, asset management, payments and settlements, commercial banking, trading and sales, retail brokerage and agency and custody services. With acceptance of Basel II worldwide, now there is a need of some IT solution that can help a company to comply with the changes made by Basel II. A lot many companies are coming up with th...
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Arun K Mishra
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| 4 years ago
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I have knowledge of labour laws, Corporate compliance etc
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Manoj Vankar
| Commented
| 5 years ago
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I have totaly knowledge in Motor Insurance
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Here are some of the practices which are best among the Compliance Officers: Compliance Dashboard The compliance platform must provide a single enterprise-wide dashboard for all users to track and trend compliance events. All compliance events should be easily viewed interactively through the enterprise compliance dashboard. Policy and Procedure Management A well designed document management system manages the lifecycle of policies and procedures within an enterprise.The creation, review, approval and release process of the policy documents and SOPs (Standard operating Procedures) should be driven by collaborative tools that provide core document management functionality. An ideal situation...
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Here are a few trends; Targeted Attacks Escape Detection: For some time, attackers have been using malware to exploit PCs, turn them into zombie computers, and create large, distributed bot networks, especially for distributing spam and malware. Phishing attacks have also become so prevalent and sophisticated that some financial institutions report their losses related to online fraud increased five-fold from 2005 to 2006. Breached Data: 100 Million Records and Counting: Driven by such targeted attacks, data breaches have reached epic proportions over the past few years. Indeed, the Privacy Rights Clearinghouse now estimates, since it started tracking data breach disclosures in February 200...
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Many organizations learn, and often, too late, that an ethics program does not make an ethical culture.What is important is the code of business ethics. The approach to such adaptation is the employment of Sox Act in your organization. Nowadays companies are facing tremendous problems in terms of internal control and coordination. So there is a need of Companies need of an entirely new approach towards managing revenue recognition processes not only to lower restatement risk, but also to improve the financial close process, speed up revenue recognition reporting, enhance revenue recognition forecasting, and allow strategic insights into their revenue streams. The changes in the regulatory e...
Insight: "How to move your company to sustainable Sarbanes-Oxley compliance - from project to process" deleted from your view.
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The Chartered Accountants have engaged themselves in the audit of Insurance Companies since long. With the transition in the insurance sector, the horizons for their contribution have broadened. There has, emerged a king-size pool of opportunities that the Chartered Accountants can explore and apply their professional wisdom and experience to. The structure of an insurance company, generally, comprises the Operating Department, Administrative Department and the Finance Department. The Operating Department generally performs the basic functions pertaining to the designing of products, marketing thereof, servicing the insured, management of portfolio, etc. The Administrative Department looks after the day to day affairs of the company. The Finance Department backs the operations and administration of the company by accounting for the transactions, streamlining the flow of funds, materializing the management decisions, etc. The Administration Department as well as the Finance...
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Many companies are turning to a new kind of enterprise resource planning software. This new model is much more affordable, provides faster return on investment, is easier to implement across an enterprise, provides superior connectivity and is highly configurable. Browser-based, open-source ERP applications hold many advantages over the traditional legacy based software systems of the past. They are easier to modify and customize, for one. This ease of configurability opens up the door to agility - changing the software system to take advantage of new opportunities or changes in the market for optimal positioning. The software can change as quickly as the company can. This new type of ERP is not "open source" in the usual sense of the term. The meaning of open source for this type of application is that the source code is modifiable, but not available to the general public. It is modifiable by the provider or the individual buyer. This is advantageous to buyers with IT resources...
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Neural networks in financial engineering Neural networks have shown considerable successes in modeling financial data series. However, a major weakness of neural modeling is the lack of established procedures for performing tests for misspecified models, and tests of statistical significance for the various parameters that have been estimated. This is a serious disadvantage in applications where there is a strong culture for testing not only the predictive power of a model or the sensitivity of the dependent variable to changes in the inputs but also the statistical significance of the finding at a specified level of confidence. Rarely is this more important than in the case of financial engineering, where the data generating processes are dominantly stochastic and only partially deterministic. Partly a tutorial, partly a review, this paper describes a collection of typical applications in options pricing, cointegration, the term structure of interest rates and models of...
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Private labels V/s national brands-The undercurrent battle! This is very interesting to note that what is making national brands vexing is not the competitors alone but the surge of private labels which seems to be eating out major chunk of the pie, traditionally a part of the appetite of the former. Private Label Manufacturer's Association categorizes PL manufacturers into 4 main categories: Large national brand manufacturers that utilize their expertise and excess plant capacity to supply store brands. Mall, quality manufacturers who specialize in particular product lines and concentrate on producing store brands almost exclusively. Often these companies are owned by corporations that also produce national brands. Major retailers and wholesalers that own their own manufacturing facilities and provide store brand products for themselves. Regional brand manufacturers that produce private label products for specific markets. In 2008, private labels had taken over 25% to 50% in...
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It is relatively easy to identify the use count and resource usage of your SP’s, but first let me discuss how SQL Server maintains the execution statistics. The SQL Server engine keeps execution statistics for each SQL Server 2005 instance. Execution Statistics are an accumulation of execution information about what has been run since the instances has started. Each time an instance is stopped and restarted all execution statistics are reset. Individual execution statistics for an object are tied to cached execution plans. When a SP is compiled, an execution plan is cached in memory. These cached execution plans are uniquely identified by a plan_handle. Since memory is limited, SQL Server from time to time will remove execution plans from memory, if the cached plan is not being actively used. Therefore the statistics stored for a particular SP maybe for an accumulation of stats since SQL Server started, if the SP has only be compiled once. Or, it may only have statistics for the...
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