adapt to political risk using enterprise risk management

Regulators Target Risk Management Negligence in Small to Mid-Sized Firms

Last month, the Consumer Financial Protection Bureau (CFPB) investigated Dwolla, an e-commerce and online-payment company. It found Dwolla guilty of risk management negligence regarding data security practices. The investigation has some significant implications. Before we take a deeper look, here are a few key takeaways: Dwolla payed a civil penalty of $100,000, despite the fact…

LogicManager Recognized With 14 Top GRC Software Vendors in 2016 Assessment

LogicManager was recognized in a leading industry analyst’s most recent evaluation of the top 14 GRC reporting software vendors. We take pride in the continued refinement of our product offerings and capabilities, as well as customer satisfaction levels unparalleled in the governance, risk, and compliance market. LogicManager’s business model is designed to remove frustrations common…

operational risk management

Risk Identification and Monitoring Ensure Hospitals, Labs, and Retailers Remain in Compliance with EPA Standards

In light of recent events, the Environmental Protection Agency is using new monitoring techniques to evaluate the quality of companies’ classifications and reporting of hazardous materials. Ironically, as we all learned recently, even the EPA itself isn’t immune to catastrophic, if preventable, mistakes. New compliance regulations increase the importance of standardized risk identification, mitigation, and…

Healthcare Industry

A Risk-Based Approach to Patient Safety and Incident Management

The Food and Drug Administration recently investigated manufacturers of endoscopes, a device most doctors call “a key tool in detecting and treating medical problems,” according to The Washington Post. Such instruments, while vital to modern medicine, are also responsible for infecting hundreds of patients with a vicious bacteria called enterobacteriaceae, more commonly known as CRE.  So…

vendor management

Increased Accountability for Risk Management results in 28-Year Prison Sentence

CNN’s latest news headline reads, “28 years for salmonella: Peanut exec gets groundbreaking sentence.” This story relates to the Peanut Butter Corporation of America’s (PCA’s) bankruptcy, and the largest food recall in the United States due to salmonella. Known as one of the deadliest salmonella outbreaks, the PCA’s case is linked to nine deaths on top…

fees for professional services

Weak Risk Management Leads to Internal Controls Deficiencies

Jeanette Franzel, board member of the Public Company Accounting Oversight Board (PCAOB), recently spoke at the American Accounting Association (AAA), according to The Wall Street Journal. She says audit-oversight inspections show a twenty percent increase (since 2013) in internal-control deficiencies of company audits. Inspections also indicate that 36 percent of company audits now have internal-control…