Guidance book issued for Basel II
To help organisations meet challenges, the non-profit, independent IT Governance Institute (ITGI) has released new book titled: "IT Control Objectives for Basel II: The Importance of Governance and Risk Management for Compliance", according to Business Wire.
Developed by individuals from a range of financial services organisations and other banking advisors, IT Control Objectives for Basel II follows the format and intent of ITGI`s popular IT Control Objectives for Sarbanes-Oxley publication.
The book provides unambiguous guidance to operational and information stakeholders regarding operational and information risk management and its application to the Basel II Capital Accord framework.
Businesses share information
Canadian companies are giving shareholders a growing volume of information about their executive compensation and their boards of directors, a report on Business Review of corporate governance trends reveals, says The Globe and Mail.
While the pace of change in many areas of corporate governance appears to be slowing, there has been a dramatic shift in the disclosure realm over the past year, as companies move quickly to beef up their reporting.
Many of the changes are related to information about compensation for executives and directors, which is published annually in companies` shareholder proxy circulars. Shareholders have particularly demanded greater information to explain and justify growing executive pay packages.
GRC still a priority
The lack of a single point of ownership seems to be a major roadblock to a successful governance, risk and compliance (GRC) strategy, but a majority of public company executives remain committed to implementing a GRC plan in the near future, according to Market Wire.
Approva recently conducted a state of the GRC industry survey to examine public companies` perception of GRC.
Prashanth Boccasam, CEO of Approva, says: "The majority of the respondents are using or plan to use commercial software to automate compliance efforts and realise the value of extending corporate investment towards a well governed risk management process. Enterprises are now starting to understand that good governance translates into good business."
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