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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.
