Insights & Articles
Featured Insights & Articles
Detecting and Preventing Human Trafficking in Supply Chain
The call across the food & beverage industry is to get certified to one of the several Global Food Safety Initiative (GFSI) scheme options to ensure safe and high quality food. GFSI-benchmarked schemes require higher safety standards than what the government regulatory bodies enforce and certification to a GFSI approved schemes will help to drive food safety programs and processes toward FSMA compliance. Read this article to learn how adherence to GFSI approved schemes can take you one step closer to meeting FSMA Mandates.
Complying with HIPAA Omnibus Rule: Key areas of focus for Healthcare Providers
The HIPAA Omnibus Rule marks a significant update to the privacy and security obligations of providers with respect to patients’ protected health information. The MetricStream solution provides ability to effectively manage and automate HIPAA/HITECH compliance and to streamline all other compliance aspects ranging from preparing policies and procedures, to assessing and analyzing risks, managing audits, identifying gaps, and remedying issues.
ISO 9001:2015 - 10 Core Elements of Quality Management System
The ‘ISO 9001:2015: 10 Core Elements of an Enterprise Quality Management System’ article will provide insights on the core elements of a robust and effective Quality Management System and enable organizations to embrace the revised standard.
Aligning Operational Risk Management to Business Management
Organizations should develop and implement strategies to improve the maturity of their risk management programs. Senior Management has a key role to play to make risk management an enterprise level practice and align it to business strategies.
Getting More From Your Compliance Budget
This article sheds light on optimizing your organization's compliance budget by leveraging a compliance framework based on GRC technology.
5 Best Practices to Enhance Third-party Due Diligence
An organization needs to ensure that the performance of the third-party is in compliance with various internal and regulatory requirements. This article provides insights on how organizations can deploy a resilient third-party due-diligence program.
Why Healthcare Payers and Providers Must Embrace Pervasive GRC
Multiple strict laws and regulations make Governance, Risk, and Compliance (GRC) a major concern for both healthcare providers and payers. Adopting agile, intuitive, and robust GRC solutions can go a long way toward achieving superior growth.
Proactive Risk Management - The Key to Business Excellence
To achieve effective enterprise risk management, organizations must focus on being proactive, rather than merely reactive, and use risk management to both drive competitive advantage and sustain future profitability and growth.
Harnessing the Power of Analytics in Auditing
Read this insight to know how Data Analytics can be leveraged by Internal Audit to broaden risk coverage and enhance audit efficiency.
Managing Supply Chain and Product Compliance Complexities
Regulations such as RoHS, REACH, and the conflict minerals rule call for greater transparency in supply chains. With a definitive strategy and real-time visibility across the supply chain, organizations can effectively mitigate risks and ensure compliance.
Best Practices for Effective Risk Assessments
Operational risks are inherent to banking and financial services industry. Effective management of these risks has been a fundamental challenge for companies. Sound internal governance forms the foundation of an effective risk management framework. To achieve this, companies need to define a consistent and comprehensive approach to manage risks.
Key Strategies to Strengthen Third-Party Due Diligence for the Retail Industry
Article on Key Components of Third-Party Due Diligence Program and how technology can help in automating the third party management program, compliance and audit.
3 Key Strategies to Mitigate Modern Supply Chain Risks
Organization face multiple supplier risks ranging from IT and security, operational, financial, legal, brand and reputational risks. Unmitigated risks can severely obstruct growth, hit the profit margin and decline in client and employee confidence. Read this article to understand the key elements for managing global supply chains effectively.
ISO 9001:2015 Discovers Risk-Based Thinking
Since its launch in 1987, the ISO 9001 standard has stipulated the requirements for a certifiable Quality Management System (QMS) to ensure the consistent manufacturing of reliable, high-grade products. The ISO 9000 family for QMS provides organizations with the necessary guidance and tools for increased product quality, customer satisfaction, and a sustainable methodology to identify improvement.
Blending Compliance and Audit to Strengthen Healthcare Governance
While Internal Audit is entrusted with the overarching responsibility of identifying and mitigating risks, compliance enables mapping internal operations to external regulations. Combining these two functions will result in effective governance, better utilization of resources, improved oversight of ethics, overall risk management, and internal control.
Strengthening Risk Management Practices in the Pharmaceuticals Supply Chain
Pharmaceutical manufacturers rely on a complex network of suppliers to manage various aspects of their product lifecycle. This article provides 6 best practices to strengthen risk management including the significance of supplier assessment and audit and leveraging technology solutions improves the efficiency of data analysis and communication.
Next-Gen CSR Strategies to Enhance Supply Chain Social Responsibility
Organizations today need to take a deeper look at the risks in their supply chains, and the weaknesses in their supplier audit procedure and address the growing interest towards ethical sourcing from consumers, regulators and other stakeholders.
Internal Audit’s Role in Transitioning to the 2013 COSO Internal Control - Integrated Framework
Internal Audit has been substantial in leading the transition to the New COSO 2013 control Framework. The New Framework also provides new opportunity for internal audit committees to take a fresh look at internal control, create value for the organization and manage elevated expectations regarding internal control.
Enhance Organizational Performance with Business-Aligned Supply Chain Management
Improving Supply Chain and Supplier Performance is often juxtaposed with addressing the needs of diverse demands of global customers. This article provides “Eight Key Steps to Improve Supply Chain and Supplier Performance” which can help organization better align business strategy and supply chain strategy for sustained performance.
Exploring the Re-proposed FSMA Rules and Ways to Comply
Signed into law in 2011, the Food Safety Modernization Act (FSMA) represents the most sweeping reform in food safety laws in several decades. With the aim of preventing food safety incidents, the law lays out multiple requirements to ensure that good food safety controls and measures are established at every step of the food chain from farm to fork. It also gives the FDA new powers to prevent, detect, and respond to food safety issues.
How Next-Generation Audit Functionalities on Smart Devices Are Changing the Audit Landscape
Field inspections are essential to auditing, and help evaluate compliance with government regulations across sectors. For these inspections to be quick and efficient, it is imperative for organizations to move away from the manual paper-based audit management approach to an electronic, automated system.
Recipe for Market Success: Integrate Effective ERM with Business Strategy
Understand how an integrated approach to risk management aligned with strategy, supported by the right technology and risk appetite can help organizations optimize their operational effectiveness to build a sustainable competitive advantage.
5 Best Practices to Improve Vendor Governance in Healthcare
Healthcare providers and payers can take the next steps to improve their vendor governance and develop effective vendor relationships that deliver immense benefits and improve performance.
Strengthening Corporate Governance Using a Risk-Intelligent Framework
Risk management is no longer just about complying with regulations. Instead, it’s about creating proactive risk management processes to consistently identify, manage, mitigate, and document risks. Read this article to learn more about how technology can help build better governed and more resilient organizations.
Risk Management in Financial Services
With crisis in financial markets still unfolding, most organizations are asking themselves, “How could we have avoided this crisis?”, “How does the current crisis affect us?”, or “What steps should we take to deal with the current crisis?”, or “Which is the most appropriate way to prevent such disruptions in the future?”.
What is the ROI of an Audit Management Solution?
Audit managers are critical, contributors to business performance providing an independent assessment and view of state of the business. As a leader in Governance, Risk Compliance (GRC) and Quality Management solution, MetricStream engages with a large number of audit managers accountable for monitoring risks and ensuring compliance across organizational units.
Demystifying the Risk-Based Approach to Cloud Computing
How do you ensure the right data is moved to Cloud? How do you ensure the right security controls are implemented in Cloud? How do you mitigate all types of risks faced in Cloud? Implementation of a risk based approach can enable enterprises to address all these issues and reinforce data confidentiality, integrity, and availability and stay ahead in the competition.
The Evolving Role of Internal Audit in Assessing the Efficiency of Business Operations
The evolving Internal Audit function has the potential to not only enhance compliance with internal controls, but also enable business value preservation and creation. This insight discusses the changing role of Internal Audit, and introduces best practices to effectively detect and manage new and emerging risks.
A Strategic Makeover for Internal Audits
Management teams and boards are increasingly looking to auditors to help them balance risks and opportunities, and make better-informed business decisions. In other words, audits are no longer just a compliance tool, but an important strategic asset. Discover how you can build a more effective audit program with a strong strategic focus.
6 Ways to Strengthen Policy Management
Since policies play a critical role in supporting and strengthening an organization’s success, it is imperative to have a formal and well-thought-out policy management process. Learn about the key steps you can take to build a more effective approach to policy management.
Strengthen Your Health and Safety Culture with Impactful Systems
Health and safety management isn’t just about meeting compliance requirements, or avoiding litigation. It’s about creating an environment where employees actively participate in achieving optimal levels of health and safety. Learn how your organization can effectively journey up the maturity curve to foster a safer and healthier work culture across the enterprise.
9 Best Practices to Jumpstart your Third-Party Management Program
While companies increasingly rely on third parties to lower costs and accelerate time-to-market, most third-party relationships come with multiple risks such as information security risks, regulatory compliance risks, and reputational risks. Learn how to keep these risks in control, and strengthen third-party management with these nine best practices.
5 Questions to Ask Before Creating a Successful Health & Safety Plan
A comprehensive Health & Safety (H&S) plan is critical not only to protect employees, but also to improve productivity, and minimize downtime costs. Whether you’ve already created such a plan, or are just getting started, here are five key questions to ask, in order to ensure that your H&S plan is optimally effective.
3 Proactive and Easy Steps for SOX Compliance
SOX compliance management can seem like a daunting task even to the best of companies. However, with a few key steps, you can effectively simplify and strengthen your SOX compliance processes. Read this article to know more about building a successful SOX compliance program.
The Power of Key Risk Indicators (KRIs) in Enterprise Risk Management (ERM)
With the global risk landscape constantly evolving and organizations striving to achieve their objectives, there is a high demand for relevant and timely risk information. Key Risk Indicators are critical predictors of unfavorable events that have the potential to adversely impact organizations. They also provide invaluable insights to monitor change in the level of risk exposure, and provide organizations early warning signs to prevent incidents and crisis. This article highlights key aspects to consider for defining effective KRIs, and how monitoring of appropriate KRIs can safeguard your organization from operational, reputational and other risks.
Are Your Stores Ready for the Holiday Season?
With holiday season just around the corner, it is imperative for every retailer to make sure that their store processes, systems, and staff are working in harmony and ready for busiest time of the year. Read this article to find out how a store audit program can help.
Role of Internal Audit as Business Advisor
Internal Audit has undergone a dramatic change in its objective from assessing oversight to delivering insight and foresight towards business functions. This article provides an insight on the role of Internal Audit in the form of an advisor adding value, apart from its role as assurer and assessor for developing key business decision and risk based strategies.