Discover and read the best of Twitter Threads about #auditing
Most recents (8)
The #Wirecard Scandal once again highlighted the incompetence of external #auditing firms.
That is why firms must invest in setting up proactive Corporate Governance, Risk Management and Compliance desks.
These are very important silos in a company, which must work together.
That is why firms must invest in setting up proactive Corporate Governance, Risk Management and Compliance desks.
These are very important silos in a company, which must work together.
The best and most sought-after professionals should be working in these areas, especially after the #ENRON and Arthur Anderson Fiasco led to the naming and shaming of the audit and financial reporting professions.
Directors appointed to committees should also be well trained to understand the nature of top financial and operational risks, which can cause potential material hazards and affect the bottom line.
Does risk management involve a lot of maths?
@SOActuaries @GARP_Risk @CQFInstitute @PRMIA @CFAinstitute @irmglobal
@SOActuaries @GARP_Risk @CQFInstitute @PRMIA @CFAinstitute @irmglobal
Yes and No!
It's a well-rounded discipline.
It's a well-rounded discipline.
For #Actuarial, #Insurance, Financial Engineering, #Quantitative #Finance and Investment Management, #Mathematical #Trading, and #Financial Risk Assignments, you might require a lot of Maths and Statistics.
Is like asking whether we need milk and sugar for making ice cream ;)
Is like asking whether we need milk and sugar for making ice cream ;)
Here's a long thread with evidence about why the @RSPOtweets has failed to make any difference with key sustainability promises incl. stopping #deforestation #indigenous #landgrabbing #ecocide #slavery #humanrights abuses for supermarket brands. 1/7 palmoildetectives.com/2021/08/23/why…
Source: @EIA_News @RSPOtweets members using so-called "sustainable" #palmoil continue with #deforestation #ecocide #illegal #landgrabbing from #Indigenous peoples.
Thus the certification is a #greenwashing con. @EIA_News #Boycottpalmoil #Boycott4Wildlife eia-international.org/news/palm-oil-…
Thus the certification is a #greenwashing con. @EIA_News #Boycottpalmoil #Boycott4Wildlife eia-international.org/news/palm-oil-…
The certification of #palmoil is considered to be a con by @GreenpeaceUK as it doesn't stop #ecocide #deforestation. Certified "sustainable" #palmoil doesn't exist #Boycottpalmoil #Boycott4Wildlife
Every socio-economic, political, legal, natural disaster, man-made disaster, or another process, which leads to a negative outcome must be recorded and taxonomized as an incident having material or near-miss risk characteristics, in the right category box in the risk register.
Modern #ERM & Traditional Risk Management are getting more and divided.
ERM is not just about Operational Loss Management and Materiality Assessment based on Assurance and Risk Review drove Internal Controls and Testing, but, it goes beyond that!
@IASassociation @TheIIA @BIS_org
ERM is not just about Operational Loss Management and Materiality Assessment based on Assurance and Risk Review drove Internal Controls and Testing, but, it goes beyond that!
@IASassociation @TheIIA @BIS_org
More and more #Analytics is being used in both Auditing and Risk management, to understand the organizational dynamics of commercial strategy and the vulnerabilities associated thereof.
Especially the design, inserting and removal of Internal Controls is an analytical exercise.
Especially the design, inserting and removal of Internal Controls is an analytical exercise.
Which are some stylized failures of Risk Management?
It is the only subject when turned into a profession, which fails to deliver in SVA terms in most of the cases, as witnessed now outside the Insurance Sector
Insurance is a different game because the profession is led by well-trained quantitative professionals such as Actuaries
Insurance is a different game because the profession is led by well-trained quantitative professionals such as Actuaries
Why it has not worked well outside the Insurance Sector/s?
The multiple reasons for the failure of Risk Management and Auditing Departments at firms could be the following =>
The multiple reasons for the failure of Risk Management and Auditing Departments at firms could be the following =>
Does #risk management involve a lot of maths?
Yes and No!
It's a well-rounded discipline.
It's a well-rounded discipline.
For #Actuarial, Insurance, Financial Engineering, Quantitative Finance and Investment Management, Mathematical Trading, and Financial Risk Assignments, you might require a lot of Maths and Statistics.
Is like asking whether we need milk and sugar for making ice cream ;)
Is like asking whether we need milk and sugar for making ice cream ;)
What are new graduates doing to be attractive to banks entry-level analyst programs?
@ABABankers @TheBanker @CIOonline @RiskDotNet @FT
@ABABankers @TheBanker @CIOonline @RiskDotNet @FT
Interesting question.
Banking sector MTO - Management Trainee Officers Program vary from country to country.
In my country Bank Staff Colleges train young graduates to become bankers.
Banking sector MTO - Management Trainee Officers Program vary from country to country.
In my country Bank Staff Colleges train young graduates to become bankers.
The hired graduates have to undergo an intensive training course by attending several In-house boot camps or lecture hall workshops before they are moved into the formal workplace.
Thread:
1. NY just passed #AVR Automatic Voter Registration. @StandUpAmerica estimates this will add over 1Mill voters to the #NY rolls. Wouldn't it be great to know that those votes were going to be counted correctly? But w/new #VotingMachines being certified we will not know.
1. NY just passed #AVR Automatic Voter Registration. @StandUpAmerica estimates this will add over 1Mill voters to the #NY rolls. Wouldn't it be great to know that those votes were going to be counted correctly? But w/new #VotingMachines being certified we will not know.
2. #Security experts like @rad_atl & @kskoglund & auditing expert @philipbstark say that the hybrid #VotingMachines are not secure and "No form of audit can confirm they functioned correctly." (Quote from Dr. Stark). Read a paper he co-authored. stat.berkeley.edu/~stark/Preprin…
3. One #Hybrid #VotingMachine is already certified in #NY. It's the Dominion ICE & is in at least 15 counties including #Westchester County where they're trying to buy 100s more. In the Westchester #primary the ICE hybrid voting machines created 4 hour lines. via @IndivisWstchr
