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.
Future of Manufacturing: Taking the Right Risks to Fuel Performance
The year 2015 saw leading manufacturers and automotive companies being pulled up for various regulatory compliance violations around emission mandates, GMP deviations, recall procedures, and safety.
Managing Vendor Risk : A Critical Step toward Compliance
Organizations that rely heavily on vendors but don’t have sufficient visibility into their vendor networks are exposing themselves to high risks. A strong Vendor Risk Management (VRM) program helps companies anticipate inherent risks rather than simply reacting to adverse situations and incidents after they occur.
Understanding Conduct Risk and How Organizations are Managing It
Over the last few years cost of conduct has increased significantly. While there is no clear definition and management framework in place, some of the companies have taken it head-on and defined approaches that can be adopted by similar firms across the geographies.
Elevating Quality Using a Risk Lens
Organizations have been treating quality as a siloed function - amputated from core business operations. In order to build a risk-based quality culture, organizations need to have access to potential or existing risks, along with its impact and severity ratings, and leverage it to design the quality management plan.
Business Continuity Management: A Pathway to Organizational Resilience
Today, Organisations must be strategically adaptable, operationally aware and tactically capable to respond to the impact of any change. The one discipline that predicates impact upon business capability is Business Continuity Management. Business Continuity Management can be used as a central facilitator to build resilience and sustainability.
5 Steps to Transform Your Enterprise Incident, Health & Safety Program
According to Occupational Safety and Health Administration (OSHA), American companies spend $170 billion per year on costs associated with occupational injuries and illnesses. Roughly 3.7 million workers are injured per year in the USA.1 The report indicates that although we have come a long way in ensuring that our workplaces are safe, there is still a lot that needs to be done.
Vendor Risk Management-Dealing with High-Risk Incidents
Although organizations have strengthened their vendor assessment programs, the number of incidents involving vendors has increased dramatically. This MetricStream Research survey on the state of vendor risk management revealed that many organizations still struggle with their vendor risk management program and have faced significant vendor risk exposures or incidents.
Three Tips To Simplify Governance, Risk and Compliance
This CloudTweaks.com published article reveals three practical tips on how organizations can simply GRC implementation across complex, interconnected and siloed functional departments.
Four Tips For Better Information Security In The Cloud
This CloudTweaks.com published article elucidates four key imperative aspects that organizations need today to protect and preserve business data, and safeguard their reputation when using the cloud.
Top Eight Priorities for Cyber Security and BCM Leaders in 2017
With volume of cyber breaches going up and, organizations lose millions of dollars to recover from a cyber-attack and suffer damaged reputations. To proactively address these cyber threats, organizations need to continuously monitor potential cyber risks and develop strategies on a continual basis.
Scaling up the Internal Audit and SOX Compliance Programs for Growth
This insight highlights why it is crucial for organizations to re-evaluate their Internal Audit and SOX programs to ensure better governance and performance. Also, talks about how they can upgrade their programs to enhance risk coverage and support organizational growth.
For Every Lock, There Is Someone Trying to Pick It: Protecting Yourself from Cyber Risks
Staying ahead of cyber threat is a daunting challenge for organizations. The progress of cyber threat with every minute has made organizations feel the need to be aware of the next possible cyber threat they may face.
Integrated GRC: The Key to Better Risk Awareness and Better Performance
Risk and compliance information in the right format, at the right time, and in the right hands is key to organizational success.
Role of Internal Audit in Implementing Integrated Reporting
Integrated Reporting (IR) is the next step in corporate reporting, which focuses on accountability, integrity, and future applicability.
Top 10 Benefits of Implementing a Supplier Quality Management Solution
The supplier quality management process must be treated as part of a broader quality management system for sustaining compliance and achieving process excellence. The business model built on ROI calculations doesn’t just take into account costs and quantitative measures, but also qualitative improvements.
Internal Audit: A Key Cybersecurity Ally
Internal Audit function can play a critical role in understanding cyber risks and help the audit committee oversee cybersecurity.
Five Steps to Mitigate the Risks of Increasing Cyber Attacks in Healthcare
Many leading healthcare organizations are adopting a top-down approach to cybersecurity where the senior management sets the tone for how the rest of the enterprise should respond to cyber risk.
5 Best Practices for a Successful Ethics and Corporate Compliance Program
A strong Ethics and Corporate Compliance Program has become a need for every regulated organisation. In addition to ensuring compliance to various regulations, such a program helps organisations to proactively identity risks, improve ethical behaviour within the organisation and become audit ready.
Collaboration between the Second and Third Line of Defence
Minimize risks, boost internal governance and increase business value by strengthening the relationship between Risk and Audit functions.
Meeting Your Regulators with Confidence
Here's an article that will share best practices on how you can be well-prepared to ace in your next regulatory exam, and build trustworthy relationships with your regulators.
What GRC Professionals Have to Say about Building Your ERM Strategy
Assessing your risk appetite is an iterative and not a linear process. The evolving business landscape poses previously unimagined risks, and an ERM or integrated risk management process must be designed in order to capture risks proactively and assess their impact on your business.
FDA CGMP Compliance : Key Guidelines for Life Sciences
Proactive Risk Management, Efficient document control, ongoing auditing, Compliance training,Non conformance and deviation tracking, Streamline corrective action,Real-time reporting and tracking.
5 Steps to Stay Ahead of Regulatory Change
This article elucidates 5 basic principles that could help your organization to develop a robust regulatory change management framework, track and analyze all too frequent regulatory updates and effectively implement the same.
Building a Case for SOX: Benefits of SOX Compliance
This insight from MetricStream introduces you to the best practices for enhancing SOX advantages.
Simplifying Regulatory Change Management with a Next-Gen GRC Framework
Read this insight to understand how banks and financial institutions can build a technology enabled regulatory change management framework that can be aligned with the overall business and risk strategy and help in automating the entire regulatory change management lifecycle.
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.