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Collection of Good Reads

Articles and blogposts on Internal Auditing, Accounting, Governance, Risk and Compliance for professionals working in the similar field or students/ scholars desiring to start their career or enhance knowledge.

Top strategies for detecting and preventing Fraud in an organization (1)

Top Strategies for Detecting and Preventing Fraud in Organizations

Fraud poses a major risk to businesses, leading to financial losses, reputational damage, and regulatory penalties. To combat this, organizations must adopt proactive fraud detection strategies such as Fraud Risk Assessments, continuous monitoring, strong internal controls, and employee training. Leveraging AI, machine learning, and blockchain can further enhance fraud prevention efforts. This article explores top strategies to help businesses identify, mitigate, and respond to fraud effectively.

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February 4, 2025
How to draft a Risk Appetite Statement _ Complete guide for consultants and business owners

How to Draft a Risk Appetite Statement: A Step-by-Step Guide for Any Business

A Risk Appetite Statement (RAS) is a crucial framework that defines the level of risk an organization is willing to take while pursuing its strategic goals. Whether you’re in banking, tech, healthcare, or e-commerce, setting clear risk boundaries enhances financial stability, decision-making, and compliance. This guide outlines 7 essential steps to create a robust RAS, from defining business objectives to monitoring and communicating risk.

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February 4, 2025
Understanding IFRS 16 - Focus areas for Auditors

IFRS 16: A Comprehensive Guide for Auditors – Accounting Entries, Impact, and Key Review Areas

The introduction of IFRS 16 has transformed lease accounting, requiring companies to recognize right-of-use (ROU) assets and lease liabilities for most leases. This shift enhances financial transparency but introduces complexities in measurement and reporting. Auditors play a critical role in verifying IFRS 16 compliance, ensuring accurate lease classification, correct discount rate application, and proper financial disclosures. This guide explores accounting entries, lease modifications, financial impact, and audit pitfalls, with practical examples to help auditors navigate the IFRS 16 review process effectively.

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February 4, 2025
Understanding Risk Appetite Statement _ Complete guide for businesses

Understanding Risk Appetite Statements: A Comprehensive Guide for Businesses

Risk Appetite Statements: A Comprehensive Guide for Businesses to implement the concept in their internal environment and leverage the concept of risk awareness and stay RISK AWARE. Companies which adapt to the risk aware culture thrive and evolve more during the time of crisis.

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February 3, 2025
Fraud risk assessment for Australian entities and legal insights and prevention strategies.

Fraud Risk Assessment for Australian Businesses: Legal Insights & Prevention Strategies

Various legal compliances, case studies highlight, key steps in conducting fraud risk assessment and best practices around FRA for legal entities in Australia. Applicable from learning perspective to entities incorporated outside Australia as well.

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February 3, 2025
Artificial Intelligence (AI) - Risk and Control Matrix (RACM)

Artificial Intelligence (AI) Risk and Control Matrix

Prepare Artificial Intelligence – AI risk and control framework for organizations looking to implement AI Technology within their organization.

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February 3, 2025
Blockchain Technology and Enterprise Risk Management (ERM)

Blockchain Technology and Enterprise Risk Management (ERM)

Discover how blockchain technology is transforming Enterprise Risk Management (ERM) by enhancing security, transparency, and compliance. Learn about blockchain risks, risk mitigation strategies, and future trends in risk management for enterprises. Explore practical use cases, security challenges, and best practices for integrating blockchain into ERM frameworks.

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February 3, 2025
Why ISO 31000 for Effective risk management

Why ISO 31000 for Effective Risk Management?

Discover why every business need ISO 31000 for effective risk management. Learn about its principles, framework, and process, and explore a step-by-step guide to designing an Enterprise Risk Management (ERM) framework aligned with ISO 31000. Enhance resilience, compliance, and decision-making with this comprehensive guide.

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January 30, 2025
Risk Based Internal Audit Planning

Risk Based Internal Audit Planning

Discover the importance of risk-based internal audit planning, its benefits, and key steps for Chief Audit Executives (CAEs) to develop an effective strategy. Learn how to identify, assess, and mitigate risks while optimizing resources and enhancing governance.

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January 30, 2025
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A one-stop portal for Governance, Risk and Compliance (GRC) resources for professionals. We bring in our valued experiences into blogposts and articles to support the profession of Internal Auditing, Risk Management, GRC and Management Consulting.

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