Tag: #audit
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Mitigating Insider Threats in High-Tech Companies: A Comprehensive Approach to Fraud Risk Management
In the fast-paced and innovation-driven world of high-tech companies, the insider threat represents a significant and growing risk. Unlike external attacks, insider threats originate within the organization, where trusted individuals—employees, contractors, or business partners—misuse their access to critical systems and sensitive data. This article delves into the various dimensions of insider threats and offers strategies…
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An Analysis of S&P’s ESG Risk Score for S&P 500 and Some Conclusions:
In our previous blogposts, we touched upon many topics related to ESG, including the definition of ESG risk, auditing strategies and also EBA report to a related risk, Greenwashing. Now, we would like to make an analysis of the current state of the sectors, based on a dataset publicly available. The dataset used in this…
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Understanding and Tackling Greenwashing: Insights from the EBA’s Report
The European Banking Authority (EBA) has recently published a comprehensive report on greenwashing, focusing on its implications for financial institutions, risk assessment, monitoring, and assurance requirements. Here is a summarized overview of the key points from the report, structured for better understanding and practical application. Definition of Greenwashing Greenwashing refers to the practice where sustainability-related…
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Asset Misappropriation: Types, Detection, Prevention, and Investigation
Following our previous blogposts related to Financial Statement Fraud and Bribery and Corruption, we now look into the most common type of fraud in organizations: Asset Misappropriation. Asset misappropriation represents a significant threat to organizations, constituting the most prevalent form of occupational fraud. In this article, we will explain various types of asset misappropriation, methodologies…
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Auditing Sustainability Requirements for the Financial Sector
Introduction The integration of sustainability requirements within the financial sector has become paramount in the wake of growing environmental, social, and governance (ESG) concerns. Regulatory frameworks and standards have evolved to ensure that financial institutions not only disclose but also manage sustainability risks effectively. This article explores the intricacies of auditing sustainability requirements in the…
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ESG Risk
•ESG refers to “a collection of corporate performance evaluation criteria that assess the robustness of a company’s governance mechanisms and its ability to effectively manage its environmental and social impacts.” •ESG is divided into three pillars:1. Environmental factors include waste management and energy efficiency.2. Social factors include human rights, labor standards, and workplace health and…
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