Governance, Risk, and Compliance Handbook: Technology, Finance, Environmental, and International Guidance and Best Practices

Governance, Risk, and Compliance Handbook: Technology, Finance, Environmental, and International Guidance and Best Practices

by Anthony Tarantino
Released March 2008
Publisher(s): Wiley
ISBN: 9780470095898

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Book description

Providing a comprehensive framework for a sustainable governance model, and how to leverage it in competing global markets, Governance, Risk, and Compliance Handbook presents a readable overview to the political, regulatory, technical, process, and people considerations in complying with an ever more demanding regulatory environment and achievement of good corporate governance. Offering an international overview, this book features contributions from sixty-four industry experts from fifteen countries.

Table of contents

  1. Cover Page
  2. Title Page
  3. Copyright
  4. Dedication
  5. Contents
  6. PREFACE
  7. Acknowledgments
  8. ABOUT THE CONTRIBUTORS
  9. CHAPTER 1: INTRODUCTION
    1. 1.1 ACT LOCALLY, IMPACT GLOBALLY
    2. 1.2 GOVERNANCE
    3. 1.3 RISK
    4. 1.4 COMPLIANCE AND INTERNAL CONTROLS
    5. 1.5 GRC AND GLOBALIZATION
    6. 1.6 GROWTH OF GLOBAL TRADE
    7. 1.7 SIMPLE SUGGESTIONS TO IMPROVE GOVERNANCE, RISK MANAGEMENT, AND COMPLIANCE (GRC)
    8. 1.8 WHY READ THIS BOOK: THE CASE FOR GOOD GRC
    9. 1.9 ORGANIZATION OF THE HANDBOOK
  10. PART 1: CORPORATE GOVERNANCE
    1. CHAPTER 2: A RISK-BASED APPROACH TO ASSESS INTERNAL CONTROL OVER FINANCIAL REPORTING (ICFR)
      1. 2.1 A RISK-BASED APPROACH TO ASSESSING ICFR
      2. 2.2 DETERMINE KEY STAKEHOLDERS
      3. 2.3 ESTABLISH THE RISK MANAGEMENT CONTEXT
      4. 2.4 RISK RATING AND RISK IDENTIFICATION
      5. 2.5 ANALYZE AND EVALUATE RISKS
      6. 2.6 TREAT/MITIGATE RISKS
      7. 2.7 IDENTIFY, ASSESS, AND REPORT ON RESIDUAL RISK STATUS
      8. 2.8 CONCLUDING REMARKS
    2. CHAPTER 3: COSO—IS IT FIT FOR PURPOSE?
      1. 3.1 THE ROOTS OF COSO
      2. 3.2 COSO THE COMMITTEE AND COSO THE 1992 INTEGRATED CONTROL FRAMEWORK: HAVE THEY STOOD THE TEST OF TIME?
      3. 3.3 ACTUAL MARKET ACCEPTANCE OF THE COSO 1992 FRAMEWORK PRIOR TO SOX
      4. 3.4 EXPECTATIONS OF COSO ESCALATE OVERNIGHT
      5. 3.5 IS COSO 1992 FREE FROM BIAS?
      6. 3.6 DOES COSO 1992 PERMIT CONSISTENT QUANTITATIVE/QUALITATIVE MEASUREMENT?
      7. 3.7 IS COSO 1992 SUFFICIENTLY COMPLETE SO THAT RELEVANT FACTORS ARE NOT OMITTED?
      8. 3.8 IS COSO 1992 RELEVANT TO AN ANYLYSIS OF CONTROLS OVER FINANCIAL REPORTING?
      9. 3.9 COSO: LOOKING FORWARD
    3. CHAPTER 4: TIME TO RETHINK THE CORPORATE TAX
      1. 4.1 Q&A WITHS MIHIR DESAI
      2. 4.2 ABOUT FACULTY IN THIS ARTICLE
    4. CHAPTER 5: THE ROLE OF INTERNAL AUDIT
      1. 5.1 INTRODUCTION
      2. 5.2 INTERNAL AUDITOR'S ROLE THOUGHOUT HISTORY
      3. 5.3 THE ROLE TRANSFORMED
      4. 5.4 BEYOND ASSURANCE: ADVISORY SERVICES
      5. 5.5 ACHIEVING THE GREATEST IMPACT
      6. 5.6 THE BRIGHT OUTLOOK OF INTERNAL AUDITING
    5. CHAPTER 6: OUTSOURCED PROCESSES: RISK AND RESOLUTION
      1. 6.1 A MATTER OF RISK
      2. 6.2 A MATTER OF RESPONSIBILITY
      3. 6.3 OUTSOURCED RISK MANAGEMENT
      4. 6.4 SAS 70 CRITICISMS
      5. 6.5 SAS 70 ALTERNATIVES
      6. 6.6 SUMMARY
    6. CHAPTER 7: THE LAST MILE OF FINANCE
      1. 7.1 THE LAST MILE OF FINANCE
      2. 7.2 REGAINING CONTROL
      3. 7.3 WHERE EVERYTHING COMES TOGHTHER
      4. 7.4 THE PATH TO AN OPTIMUM CLOSE
      5. 7.5 A RETURN TO GOOD FINANCE
    7. CHAPTER 8: U.S. STOCK OPTION BACKDATING SCANDALS
      1. 8.1 INTRODUCTION
      2. 8.2 THE PROS AND CONS OF STOCK OPTIONS
      3. 8.3 THE AMERICAN SCANDALS
      4. 8.4 WHY STOCK OPTIONS SHOULD BE AVOIDED
      5. 8.5 SUGGESTIONS IN MANAGING OPTIONS FOR THOSE WHO MUST RETAIN THEM
      6. 8.6 HOW THE UNITED STATES GOT INTO SUCH A MESS
    8. CHAPTER 9: FRAUD AND CORRUPTION
      1. 9.1 WHAT ARE FRAUD AND CORRUPTION? HISTORICAL BACKGROUND FROM ETHICS
      2. 9.2 CONSEQUENCES OF FRAUD AND CORRUPTION FOR AN INDIVIUAL, BUSINESS, AND COMMUNITY
      3. 9.3 PRINCIPAL-AGENT PROBLEM WITH PRACTICES AND PROCEDURES FOR MANAGING FRAUD AND CORRUPTION
      4. 9.4 BEST PRACTICE GUIDELINES FOR DETECTION METHODS, INCLUDING CHECKING OF BACKGROUND AND REFERENCES
      5. 9.5 DATA MINING FOR DETECTION OF FRAUD AND CORRUPTION
      6. 9.6 CORPORATE GOVERNANCE, COMPLIANCE ISSUES, AND KNOWING YOUR EMPLOYEES AND CLIENTS
      7. 9.7 ENFORCEMENT, INCENTIVE SCHEMES, AND MARKET SOLUTIONS PREVENTING FRAUD AND CORRUPTION
    9. CHAPTER 10: WHY FIGHTING CORRUPTION REMAINS A LOSING BATTLE
      1. 10.1 INTRODUCTION: THE FIGHT AGAINST CORRUPTION REQUIRES A DEEPER UNDERSTANDING OF THE UNDERLYING MALAISE
      2. 10.2 CORRUPTION AND GOVERNANCE: FUNDAMENTAL CONCEPTS AND CONCERNS
      3. 10.3 WHAT DRIVES CORRUPTION?
      4. 10.4 CONCLUSIONS: DON'T USE THE "C" WORD
  11. PART 2: IT GOVERNANCE
    1. CHAPTER 11: IT GOVERNANCE OVERVIEW
      1. 11.1 GOVERNANCE BACKGROUND
      2. 11.2 INFORMATION ECONOMY, INTELLECTUAL CAPITAL
      3. 11.3 COMPETITIVENESS
      4. 11.4 IT SERVICE DELIVERY
      5. 11.5 GOVERNANCE CONVERGENCE
      6. 11.6 STRATEGIC AND OPERATIONAL RISK MANAGEMENT
      7. 11.7 REGULATORY COMPLIANCE
      8. 11.8 INFORMATION RISK
      9. 11.9 STRATEGIC SYSTEM DEPLOYMENT AND PROJECT GOVERNANCE
      10. 11.10 IT GOVERNANCE FRAMEWORKS AND TOOLS
      11. 11.11 FRAMEWORKS
      12. 11.12 AS 8015-2005
      13. 11.13 IT GOVERNANCE—THE IMPLEMENTATION CHALLENGE
      14. 11.14 BENEFITS OF AN IT GOVERNANCE FRAMEWORK
    2. CHAPTER 12: ISO 27001 AND ISO 17799
      1. 12.1 ISO 27001 AND ISO 17799—THE INFORMATION SECURITY STANDARDS
      2. 12.2 ISO 17799 VERSUS ISO 27001
      3. 12.3 CONCLUSION
      4. 12.4 ESSENTIAL FURTHER READING
    3. CHAPTER 13: COBIT
      1. 13.1 BACKGROUND
      2. 13.2 HISTORY
      3. 13.3 C OBI T CUBE
      4. 13.4 LINKING BUSINESS GOALS TO IT GOALS
      5. 13.5 HOW WILL C OBI T 4.X IMPACT/BENEFIT USERS?
      6. 13.6 CONCLUSION
  12. PART 3: OPERATIONAL RISK
    1. CHAPTER 14: OPERATIONAL RISK MANAGEMENT (ORM) BEST PRACTICES
      1. 14.1 INTRODUCTION
      2. 14.2 DEFINING OPERATIONAL RISK
      3. 14.3 TONE AT THE TOP AND CORPORATE CULTURE
      4. 14.4 DOCUMENTATION
      5. 14.5 POLICIES AND PROCEDURES
      6. 14.6 INDEPENDENT AUDIT
      7. 14.7 MANAGEMENT OVERSIGHT
    2. CHAPTER 15: THE USE OF SIX SIGMA IN OPERATIONAL RISK AND REGULATORY COMPLIANCE: REDUCTION IN VARIABILITY
      1. 15.1 WHAT IS SIX SIGMA?
      2. 15.2 THE SIX SIGMA METHODOLOGY
      3. 15.3 THE HARD TOOLS OF SIX SIGMA
      4. 15.4 THE SOFT TOOLS OF SIX SIGMA
      5. 15.5 CONCLUSION
    3. CHAPTER 16: OPERATIONAL RISK MANAGEMENT USING QUANTITATIVE METHODS
      1. 16.1 INTRODUCTION
      2. 16.2 DEFINING OPERATIONAL RISK
      3. 16.3 DEFINING QUANTITATIVE ANALYSIS (QUANTITATIVE METHODS)
      4. 16.4 ADVANTAGES AND DISADVANTAGES OF USING QUANTITATIVE METHODS
      5. 16.5 OPERATIONAL RISK ASSESSMENT AND MANAGEMENT—ESSENTIAL COMPONENTS
      6. 16.6 QUANTIFY OPERATIONAL RISK
      7. 16.7 MONITOR AND CONTROL OPERATIONAL RISK
      8. 16.8 CHANGE MANAGEMENT
    4. CHAPTER 17: OPERATIONAL RISK MANAGEMENT IN FINANCIAL SERVICES
      1. 17.1 INTRODUCTION
      2. 17.2 APPROACHES TO OPERATIONAL RISK MANAGEMENT
      3. 17.3 BANKING DOCUMENTATION
      4. 17.4 OPERATIONAL RISK TOOLS OVERVIEW
      5. 17.5 U.S. NPR: AMA APPROACHES FOR OPERATIONAL RISK 4
  13. PART 4: TECHNOLOGY AND TOOLS
    1. CHAPTER 18: WHAT TO LOOK FOR IN ENTERPRISE CONTENT MANAGEMENT FOR COMPLIANCE
      1. 18.1 INTRODUCTION
      2. 18.2 FINANCIAL COMPLIANCE PROCESS
      3. 18.3 STANDARD REQUIREMENTS
      4. 18.4 ADVANCED REQUIREMENTS
      5. 18.5 NEXT GENERATION ECM SYSTEMS
      6. 18.6 CONCLUSION
    2. CHAPTER 19: ENTERPRISE SEARCH AND AUTOMATED TESTING
      1. 19.1 CURRENT STATE OVERVIEW
      2. 19.2 CHALLENGES IN APPLYING BEST PRACTICES
      3. 19.3 CASE STUDY: GLOBAL OIL AND GAS EXPLORATION CORPORATION
    3. CHAPTER 20: WHAT TO LOOK FOR IN AUDIT OPERATIONS APPLICATIONS
      1. 20.1 AUDIT PROCESS
      2. 20.2 AUDIT OPERATIONS MATURITY MODEL
      3. 20.3 BUSINESS PAIN POINTS (LEVEL 1: INITIAL)
      4. 20.4 VALUE PROPOSITION OF AUDIT OPERATIONS APPLICATIONS
      5. 20.5 AUDIT OPERATIONS APPLICATIONS
      6. 20.6 STANDARD FUNCTIONALITIES (LEVELS 2 AND 3: DEFINED)
      7. 20.7 ADVANCED FUNCTIONALITIES (LEVEL 4: MANAGED)
      8. 20.8 NEXT GENERATION OFFERINGS (LEVEL 5: OPTIMIZING)
      9. 20.9 CONCLUSION
    4. CHAPTER 21: AUTOMATION OF SEGREGATION OF DUTIES
      1. 21.1 INTRODUCTION
      2. 21.2 DEFINING SEGREGATION OF DUTIES
      3. 21.3 LOOKING TOWARD AUTOMATION
      4. 21.4 AUTOMATING SEGREGATION OF DUTIES
      5. 21.5 SEGREGATION OF DUTIES CONSIDERATION CHECKLIST
      6. 21.6 TYPES OF AUTOMATION TOOLS
      7. 21.7 SOD VIOLATION REPORTING CAPABILITIES
      8. 21.8 SOD SIMULATION CAPABILITIES
      9. 21.9 PREVENTIVE CONTROLS
      10. 21.10 SOD RISK LIBRARIES
      11. 21.11 IMPLEMENTING A SOD AUTOMATION TOOL
      12. 21.12 POSTIMPLEMENTATION SUPPORT
    5. CHAPTER 22: INTERNAL CONTROLS BEST PRACTICES
      1. 22.1 OVERVIEW
      2. 22.2 COSO II
      3. 22.3 AUTOMATION OF CONTROLS
      4. 22.4 TYPES OF AUTOMATED CONTROLS
      5. 22.5 PRIMARY FINANCIAL CONTROL CONSIDERATIONS
      6. 22.6 COMBINING COMPLIANCE AND OPERATIONAL REQUIREMENTS TO ACHIEVE AN ROI ON COMPLIANCE EXPENDITURE
      7. 22.7 FURTHER CONSIDERATIONS
      8. 22.8 CONCLUSION
    6. CHAPTER 23: IT CONTROLS AUTOMATION AND DATABASE MANAGEMENT: DEFENDING AGAINST THE INSIDER THREAT
      1. 23.1 THE NEW INTERNAL CONTROLS ENVIRONMENT: IT DEPARTMENTS FACE A SEA CHANGE
      2. 23.2 A LAYMAN'S GUIDE TO THE ROLE OF RELATIONAL DATABASE MANAGEMENT SYSTEMS IN AN ENTERPRISE
      3. 23.3 A LAYMAN'S GUIDE TO THE ROLE OF THE DATABASE ADMINISTRATOR IN AN ENTERPRISE
      4. 23.4 HOW INTERNAL AUDITORS TEST DATABASE MANAGEMENT OPERATIONS
      5. 23.5 A FRAMEWORK FOR FORMULATING AN IT CONTROLS AUTOMATION STRATEGY
      6. 23.6 HOW TO IMPLEMENT EFFECTIVE PREVENTIVE CONTROLS FOR RDBMS
      7. 23.7 HOW TO IMPLEMENT EFFECTIVE DETECTIVE CONTROLS FOR RDBMS
      8. 23.8 OUTSOURCED IT PROCESSES: THE PROMISE AND THE PITFALLS
      9. 23.9 THE COMPELLING BUSINESS CASE FOR AUTOMATED INFRASTRUCTURE CONTROLS
    7. CHAPTER 24: PLM TECHNOLOGIES: ROLE AND VALUE IN SUPPORTING PRODUCT COMPLIANCE
      1. 24.1 INTRODUCTION
      2. 24.2 PLM—WHAT IT IS, AND WHAT IT ISN'T
      3. 24.3 THE PRODUCT
      4. 24.4 THE REQUIREMENTS
      5. 24.5 THE PROCESSES
      6. 24.6 COMPLIANCE ASSURANCE SYSTEM
      7. 24.7 VALUE OF AUTOMATION AND SYSTEM CONTROL
      8. 24.8 REFERENCE ARCHITECTURE
      9. 24.9 CONCLUSIONS
    8. CHAPTER 25: HOW XBRL WILL DRAMATICALLY IMPROVE REPORTING AND CONTROL PROCESSES
      1. 25.1 INTRODUCTION
      2. 25.2 A PRIMER ON XBRL
      3. 25.3 WHO IS USING XBRL TODAY?
      4. 25.4 THE BUSINESS CASE FOR IMPROVING BUSINESS REPORTING TRANSPARENCY
      5. 25.5 CURRENT CONSTRAINTS
      6. 25.6 ADDITIONAL BENEFITS FROM XBRL
  14. PART 5: ENVIRONMENTAL GOVERNANCE
    1. CHAPTER 26: THE IMPACT OF ENVIRONMENTAL LEGISLATION ON HIGH-TECH SUPPLY CHAINS
      1. 26.1 INTRODUCTION
      2. 26.2 THE RoHS AND WEEE LEGISLATIONS
      3. 26.3 RESTRICTION OF HAZARDOUS SUBSTANCES GLOBALLY
      4. 26.4 IMPACT OF ROHS AND WEEE ON BUSINESS PROCESSES AND SUPPLY CHAIN PARTICIPANTS
      5. 26.5 SUMMARY
    2. CHAPTER 27: ENVIRONMENTAL COMPLIANCE AND ENFORCEMENT IN CHINA
      1. 27.1 INTRODUCTION
      2. 27.2 PRESSURES ON THE ENVIRONMENT
      3. 27.3 LEGAL FRAMEWORK
      4. 27.4 INSTITUTIONAL FRAMEWORK
      5. 27.5 ENFORCEMENT AND COMPLIANCE PROMOTION
      6. 27.6 COMPLIANCE BY INDUSTRY
      7. 27.7 RISING PUBLIC ENVIRONMENTAL AWARENESS
      8. 27.8 HARMONIOUS SOCIETY AND ENVIRONMENTAL COMPLIANCE AND ENFORCEMENT
    3. CHAPTER 28: THE TRAJECTORY OF ENVIRONMENTAL REGULATION: A STRATEGIC APPROACH FOR INDUSTRY
      1. 28.1 DRIVERS
      2. 28.2 CHARACTERISTICS OF RESULTING REGULATIONS
      3. 28.3 THE IMPACT
      4. 28.4 A HOLISTIC APPROACH
    4. CHAPTER 29: ENVIRONMENTAL COMPLIANCE IN INDIA
      1. 29.1 INTRODUCTION
      2. 29.2 CURRENT STATE OF REGULATORY COMPLIANCE AND INSTITUTIONAL CHALLENGES
      3. 29.3 CORPORATE ENVIRONMENTAL PERFORMANCE: COMPLIANCE AND BEYOND
      4. 29.4 CONCLUSION
    5. CHAPTER 30: LATIN AMERICAN ENVIRONMENTAL COMPLIANCE: ENVIRONMENTAL BIOTECHNOLOGY
      1. 30.1 ENVIRONMENT AND INDUSTRIALIZATION
      2. 30.2 ENVIRONMENTAL BIOTECHNOLOGY ROLE
      3. 30.3 ENVIRONMENTAL BIOTECHNOLOGY APPLIED TO SEWAGE TREATMENT
      4. 30.4 ENVIRONMENTAL BIOTECHNOLOGY APPLIED TO REFORESTATION
      5. 30.5 LEGISLATION
    6. CHAPTER 31: POLICY DEVELOPMENTS IN THE UNITED STATES RELATED TO CHEMICALS AND ELECTRONIC WASTE
      1. 31.1 INTRODUCTION
      2. 31.2 THE U.S. TOXIC SUBSTANCE CONTROL ACT
      3. 31.3 ELECTRONIC WASTE IN ENVIRONMENTAL POLICY
  15. PART 6: INDUSTRY GOVERNANCE
    1. CHAPTER 32: ELECTRONICS GLOBAL HOMOLOGATION: REMOVING REGULATORY BARRIERS TO TRADE
      1. 32.1 OVERVIEW
      2. 32.2 HOMOLOGATION PROJECT MANAGEMENT
      3. 32.3 NORTH AMERICA
      4. 32.4 WESTERN EUROPE: R&TTE DIRECTIVE 2
      5. 32.5 REST OF THE WORLD
      6. 32.6 PRODUCT COLLATERAL
      7. 32.7 THE FUTURE: POSITIVE REGULATORY TRENDS
    2. CHAPTER 33: PROTECTING THE INNOCENT: THE INFORMATION SECURITY AND PRIVACY BATTLE
      1. 33.1 RECENT HISTORY OF PRIVACY REGULATIONS IN THE UNITED STATES
      2. 33.2 PERSONAL DATA PRIVACY PROTECTION IN EUROPE
      3. 33.3 CRITICAL ROLE OF ACCOUNTABILITY IN INFORMATION SECURITY
      4. 33.4 FOR FURTHER CONSIDERATION—INDIVIDUAL RECOGNITION TECHNOLOGY
    3. CHAPTER 34: SHIPPERS COMPLIANCE IN FREIGHT TRANSPORTATION AND LOGISTICS
      1. 34.1 INTRODUCTION
      2. 34.2 KEY REGULATORY BODIES
      3. 34.3 IMPORT REQUIREMENTS
      4. 34.4 EXPORT REQUIREMENTS
      5. 34.5 HAZARDOUS MATERIALS
      6. 34.6 OTHER GENERALLY ACCEPTED PROTOCOLS AND STANDARDS
      7. 34.7 THE INCREASING IMPORTANCE OF CONFORMANCE TO CUSTOMER STANDARDS
      8. 34.8 CONCLUSION
    4. CHAPTER 35: PHARMACEUTICAL
      1. 35.1 INTERNATIONAL
      2. 35.2 CANADA
      3. 35.3 EUROPE
      4. 35.4 ASIA
      5. 35.5 SUMMARY
    5. CHAPTER 36: PUBLIC SECTOR TRANSPARENCY—HOW IS IT REGULATED IN EUROPE?
      1. 36.1 INTRODUCTION: THE ROLE OF TRANSPARENCY FOR GOOD GOVERNANCE
      2. 36.2 RIGHT OF ACCESS TO PUBLIC SECTOR INFORMATION IN EUROPE
      3. 36.3 CONCLUSIONS
    6. CHAPTER 37: RETAIL
      1. 37.1 INTRODUCTION
      2. 37.2 COMPLIANCE IN THE RETAIL INDUSTRY
      3. 37.3 CONSUMER SAFETY
      4. 37.4 ENVIRONMENT: RECYCLING
      5. 37.5 DATA AND PAYMENT TRANSACTIONS
      6. 37.6 LOOKING AHEAD
    7. CHAPTER 38: SUPPLY CHAIN COMPLIANCE
      1. 38.1 INTRODUCTION
      2. 38.2 SEPARATION OF DUTY
      3. 38.3 SELECTION OF SUPPLIERS
      4. 38.4 RISK AND BUSINESS CONTINUITY MANAGEMENT
      5. 38.5 PAYMENTS
      6. 38.6 ITEM AND SUPPLIER SETUP
      7. 38.7 CONTRACTS AND PURCHASE ORDERS
      8. 38.8 TRACKING AND REPORTING PURCHASE OBLIGATIONS
      9. 38.9 ASSURANCE OF SUPPLY
      10. 38.10 SUPPLY CHAIN PLANNING AND SCHEDULING
      11. 38.11 INVENTORY MANAGEMENT
      12. 38.12 PHYSICAL ASSET PROTECTION, INTELLECTUAL PROPERTY, AND CONFIDENTIALITY
      13. 38.13 LOGISTICS, TAX, AND TRADE
      14. 38.14 ANTICOMPETITIVE BEHAVIOR
      15. 38.15 QUALITY REQUIREMENTS FOR THE BUSINESS MANAGEMENT SYSTEM
      16. 38.16 SUPPLY CHAIN ENVIRONMENTAL AND SOCIAL RESPONSIBILITY MANAGEMENT
      17. 38.17 RECORD KEEPING
      18. 38.18 TRAINING
    8. CHAPTER 39: TELECOMMUNICATIONS
      1. 39.1 LICENSES
      2. 39.2 REGULATED PRICING AND TARIFFS
      3. 39.3 HEALTH AND SAFETY
      4. 39.4 PRIVACY AND SECURITY OF CUSTOMER INFORMATION
      5. 39.5 CONTENT
    9. CHAPTER 40: CARRIERS COMPLIANCE IN FREIGHT TRANSPORTATION AND LOGISTICS
      1. 40.1 INTRODUCTION
      2. 40.2 KEY REGULATORY BODIES
      3. 40.3 COMPLIANCE ISSUES FOR TRUCKING COMPANIES
      4. 40.4 COMPLIANCE ISSUES FOR RAILROADS
      5. 40.5 COMPLIANCE ISSUES FOR MARINE TRANSPORTATION COMPANIES
      6. 40.6 COMPLIANCE ISSUES FOR AIR CARGO CARRIERS
      7. 40.7 CONCLUSION
  16. PART 7: FINANCIAL SERVICES GOVERNANCE
    1. CHAPTER 41: FINANCIAL SERVICES REGULATION AND CORPORATE GOVERNANCE
      1. 41.1 THE HISTORY OF FINANCIAL SERVICES REGULATION
      2. 41.2 INTERNATIONAL REGULATION
      3. 41.3 WHAT IS THE POINT OF REGULATORY CAPITAL?
      4. 41.4 HOW MUCH REGULATORY CAPITAL IS REQUIRED?
      5. 41.5 OTHER FINANCIAL REGULATION
      6. 41.6 MONEY LAUNDERING DETERRENCE
      7. 41.7 BANKING AND THE ENVIRONMENT
      8. 41.8 THE FUTURE OF BANKING REGULATION
    2. CHAPTER 42: INSURANCE INDUSTRY AND SOLVENCY II
      1. 42.1 INTRODUCTION
      2. 42.2 VALUING INSURANCE LIABILITIES
      3. 42.3 SOLVENCY CAPITAL AND MINIMUM CAPITAL REQUIREMENTS
      4. 42.4 OPERATIONAL RISK MANAGEMENT
      5. 42.5 ISSUES FACING INSURERS IN IMPROVING OPERATIONAL RISK
      6. 42.6 ISSUES FACING INSURERS IN IMPROVING DATA INTEGRITY AND RETENTION
      7. 42.7 ISSUES FACING INSURERS MEETING IFRS AND SOLVENCY II
      8. 42.8 THE LAMFALUSSY PROCESS IN DEPLOYING SOLVENCY II
      9. 42.9 CONCLUSION
    3. CHAPTER 43: ISLAMIC FINANCE
      1. 43.1 INTRODUCTION
      2. 43.2 SHARIAH BUSINESS RULES
      3. 43.3 USURY (RIBA) AND INTEREST
      4. 43.4 ISLAMIC FINANCE
      5. 43.5 JORDAN ISLAMIC BANK FOR FINANCE AND INVESTMENT
      6. 43.6 CONCLUSIONS
  17. PART 8: REGIONAL AND NATIONAL GUIDANCE
    1. CHAPTER 44: CORPORATE GOVERNANCE AND RISK MANAGEMENT IN AFRICA
      1. 44.1 INTRODUCTION
      2. 44.2 PURPOSE OF CORPORATE GOVERNANCE
      3. 44.3 ROLE OF THE BOARD
      4. 44.4 RISK MANAGEMENT
      5. 44.5 REPORTING AND DISCLOSURE
      6. 44.6 CONCLUSION
    2. CHAPTER 45: EUROPEAN UNION—REGIONAL GUIDANCE
      1. 45.1 INTRODUCTION
      2. 45.2 THE ROLE OF THE SINGLE MARKET
      3. 45.3 DIVIDE AND CONFLICT—RETAIL AND WHOLESALE
      4. 45.4 LONDON VERSUS BRUSSELS
      5. 45.5 THE VESTED INTERESTS
      6. 45.6 INTERNATIONAL REGULATORY COMPETITION
      7. 45.7 ONE WORD—REGULATION, REGULATION, REGULATION
      8. 45.8 THE FUTURE OF REGULATION
      9. 45.9 A NEW APPROACH
    3. CHAPTER 46: CORPORATE GOVERNANCE IN MAJOR ISLAMIC NATIONS
      1. 46.1 INTRODUCTION
      2. 46.2 ISLAMIC FINANCIAL INSTITUTIONS DRIVE IMPROVED CORPORATE GOVERNANCE
      3. 46.3 HARMONIZING WESTERN AND ISLAMIC GOVERNANCE
      4. 46.4 CORPORATE GOVERNANCE IN LARGER MUSLIM NATIONS
      5. 46.5 THE RELATIONSHIP BETWEEN GOVERNANCE AND FREEDOM, LITERACY, AND WEALTH
      6. 46.6 THE RELATIONSHIP BETWEEN GOVERNANCE AND PER CAPITA GDP GROWTH
      7. 46.7 THE RELATIONSHIP BETWEEN GOVERNANCE AND TRADE
      8. 46.8 CONCLUSION
    4. CHAPTER 47: GLOBAL COMPLIANCE PROGRAMS IN LATIN AMERICA: MAJOR CHALLENGES AND LESSONS LEARNED
      1. 47.1 INTRODUCTION
      2. 47.2 POLITICAL AND BUSINESS CLIMATE
      3. 47.3 APPLICATION OF U.S. LAWS IN LATIN AMERICA
      4. 47.4 INTERNATIONAL INITIATIVES
      5. 47.5 LESSONS LEARNED FROM CASE STUDIES
    5. CHAPTER 48: SOUTHEAST ASIA CORPORATE GOVERNANCE
      1. 48.1 BACKGROUND
      2. 48.2 ASSESSMENT OF THE ASIA CORPORATE GOVERNANCE REGULATORY AND COMPLIANCE PROGRAM 3
      3. 48.3 CORPORATE GOVERNANCE PERFORMANCE AND COMPLIANCE IN ASIA 9
      4. 48.4 LESSONS LEARNED—BEST PRACTICES
      5. 48.5 CONCLUSION
    6. CHAPTER 49: AUSTRALIAN CORPORATE GOVERNANCE: THE ASX PRINCIPLES
      1. 49.1 AUSTRALIAN MODEL OF CORPORATE GOVERNANCE
      2. 49.2 WORLD BANK CORPORATE GOVERNANCE RATINGS
      3. 49.3 THE ASX 10 PRINCIPLES 7
    7. CHAPTER 50: CORPORATE GOVERNANCE: INDONESIA
      1. 50.1 BACKGROUND
      2. 50.2 CORPORATE GOVERNANCE PRACTICES
      3. 50.3 CURRENT ENVIRONMENT AND FUTURE TRENDS
      4. 50.4 CONCLUSION
      5. 50.5 REGULATIONS
    8. CHAPTER 51: COMPLIANCE: BRAZIL
      1. 51.1 INTRODUCTION
      2. 51.2 BUSINESS OWNERSHIP STRUCTURE AND PUBLIC ACCOUNTABILITY
      3. 51.3 LEGAL ENVIRONMENT
      4. 51.4 ACCOUNTING/FINANCE ENVIRONMENT
      5. 51.5 AUDITING ENVIRONMENT
      6. 51.6 CORPORATE GOVERNANCE IN BRAZIL
      7. 51.7 SHORTFALLS IN THE LEGAL ENVIRONMENT
      8. 51.8 COMPLIANCE AND ITS DEPENDENCE ON THE FUTURE OF ACCOUNTING STANDARD SETTING IN BRAZIL
    9. CHAPTER 52: CANADIAN SOX (BILL 198)
      1. 52.1 BACKGROUND
      2. 52.2 WHAT IS REQUIRED?
      3. 52.3 COCO CONTROL MODEL 4
      4. 52.4 COMPARISON OF COCO TO COSO 6
      5. 52.5 CONCLUSION
    10. CHAPTER 53: CORPORATE GOVERNANCE: CHINA
      1. 53.1 INTRODUCTION
      2. 53.2 WORLD BANK RATINGS FOR SIX ELEMENTS OF GOVERNANCE
      3. 53.3 TRANSITION FROM STATE-OWNED ENTERPRISES (SOES) TO CORPORATIONS
      4. 53.4 THE CORPORATE LAW OF 1993–2006
      5. 53.5 SUGGESTED IMPROVEMENTS IN THE CORPORATE LAW
      6. 53.6 CHINA'S SHANGHAI AND SHENZHEN STOCK MARKETS
    11. CHAPTER 54: CORPORATE GOVERNANCE: FRANCE
      1. 54.1 INTRODUCTION
      2. 54.2 CURRENT STATE OF CORPORATE GOVERNANCE
      3. 54.3 MEDEF AND AFEP CONSOLIDATED CODE
      4. 54.4 LOI DE SÉCURITÉ FINANCIÉRE (LSF) INTRODUCTION 12
      5. 54.5 LSF AND AMF PUBLICATION REQUIREMENTS SUMMARY
      6. 54.6 INTERNAL CONTROLS—AFEP AND MEDEF RECOMMENDATIONS
      7. 54.7 WHISTLE-BLOWER VERSUS PRIVACY PROTECTION
      8. 54.8 CONCLUSION
    12. CHAPTER 55: GLOBAL COMPLIANCE: GERMANY
      1. 55.1 REGULATORY COMPLIANCE OVERVIEW
      2. 55.2 CASE STUDY: TRANSPARENCY OF EXECUTIVE COMPENSATION IN GERMANY
      3. 55.3 CONCLUSION
    13. CHAPTER 56: THE CURRENT AND FUTURE STATES OF CORPORATE GOVERNANCE CULTURE AND REGULATION IN INDIA
      1. 56.1 CLAUSE 49
      2. 56.2 THE PUBLIC SECTOR
      3. 56.3 WHAT THE FUTURE HOLDS
    14. CHAPTER 57: INDIAN CORPORATE GOVERNANCE: COMPLIANCE VERSUS VALUE ADDITION
      1. 57.1 BACKGROUND
      2. 57.2 COMPANIES ACT OF 1956
      3. 57.3 MINISTRY OF COMPANY AFFAIRS
      4. 57.4 SECURITIES AND CONTRACTS (REGULATION) ACT OF 1956
      5. 57.5 SECURITIES AND EXCHANGE BOARD OF INDIA (SEBI) ACT OF 1992
      6. 57.6 DEPOSITORIES ACT OF 1996
      7. 57.7 ACCOUNTING STANDARDS
      8. 57.8 LISTING AGREEMENT OF THE SEBI 2000
      9. 57.9 GENESIS OF CLAUSE 49
      10. 57.10 MANDATORY REQUIREMENTS
    15. CHAPTER 58: CORPORATE GOVERNANCE: AN OVERVIEW ON THE ITALIAN CASE
      1. 58.1 INTRODUCTION
      2. 58.2 THE INSTITUTIONAL POINT OF VIEW
      3. 58.3 THE MANAGERIAL POINT OF VIEW
      4. 58.4 CONCLUSION
    16. CHAPTER 59: THE GUIDE TO GLOBAL COMPLIANCE: THE NATIONAL CHAPTER—JAPAN
      1. 59.1 INTRODUCTION
      2. 59.2 CURRENT STATE REGULATORY COMPLIANCE OVERVIEW
      3. 59.3 COMPLIANCE TRENDS: CHALLENGES AND OPPORTUNITIES
      4. 59.4 THE MARKET AND HUMAN BENEFITS OF GETTING THERE SOONER RATHER THAN LATER
      5. 59.5 CASE STUDIES
      6. 59.6 CONCLUSION
    17. CHAPTER 60: COMPLIANCE IN MEXICO : TRENDS, BEST PRACTICES, AND CHALLENGES
      1. 60.1 INTRODUCTION
      2. 60.2 POLITICAL AND ECONOMIC ENVIRONMENT
      3. 60.3 INTERNATIONAL INITIATIVES AGAINST CORRUPTION
      4. 60.4 APPLICABLE U.S. LAWS AND REGULATIONS
      5. 60.5 MEXICAN BEST PRACTICES AND LAWS
      6. 60.6 ANTI-MONEY LAUNDERING COMPLIANCE
      7. 60.7 CONCLUDING REMARKS
    18. CHAPTER 61: CORPORATE GOVERNANCE IN RUSSIA
      1. 61.1 INTRODUCTION
      2. 61.2 SOVEREIGN DEMOCRACY
      3. 61.3 STATE-OWNED ENTERPRISES
      4. 61.4 WORLD BANK GOVERNANCE METRICS
      5. 61.5 CURRENT STATE OF CORPORATE GOVERNANCE
      6. 61.6 EFFORTS TO IMPROVE CORPORATE GOVERNANCE
      7. 61.7 CONCLUSION: THE BUSINESS CASE FOR IMPROVED CORPORATE GOVERNANCE
    19. CHAPTER 62: CORPORATE GOVERNANCE: SOUTH KOREA
      1. 62.1 INTRODUCTION
      2. 62.2 TRADITIONAL FRAMEWORK OF CORPORATE GOVERNANCE IN SOUTH KOREA
      3. 62.3 CORPORATE GOVERNANCE REFORM IN SOUTH KOREA: REFORMING OWNERSHIP STRUCTURE
      4. 62.4 TRANSPARENCY AND BOARD STRUCTURE
      5. 62.5 EMPIRICAL EVIDENCE RELATING TO CORPORATE GOVERNANCE REFORM IN SOUTH KOREA
      6. 62.6 CONCLUDING COMMENTS
    20. CHAPTER 63: CORPORATE GOVERNANCE: SPAIN
      1. 63.1 INTRODUCTION
      2. 63.2 CURRENT STATE OF CORPORATE GOVERNANCE
      3. 63.3 THE ALDAMA REPORT, TRANSPARENCY ACT, AND CNMV REGULATIONS
      4. 63.4 BOARD OF DIRECTORS AND BOARD COMMITTEES
      5. 63.5 AUDIT REGULATIONS
      6. 63.6 CORPORATE GOVERNANCE DISCLOSURE
      7. 63.7 THE BANKING SECTOR
      8. 63.8 CONCLUSION
    21. CHAPTER 64: CORPORATE GOVERNANCE: UNITED KINGDOM
      1. 64.1 CURRENT STATE REGULATORY COMPLIANCE OVERVIEW
      2. 64.2 COMPLIANCE TRENDS: CHALLENGES AND OPPORTUNITIES
      3. 64.3 THE MARKET AND HUMAN BENEFITS OF GETTING THERE SOONER RATHER THAN LATER
      4. 64.4 CONCLUSION
    22. CHAPTER 65: UNITED KINGDOM'S COMBINED CODE
      1. 65.1 INTRODUCTION
      2. 65.2 BOARD OF DIRECTORS
      3. 65.3 CHAIRPERSON AND CHIEF EXECUTIVE
      4. 65.4 BOARD BALANCE AND INDEPENDENCE
      5. 65.5 APPOINTMENTS TO THE BOARD
      6. 65.6 INFORMATION AND PROFESSIONAL DEVELOPMENT
      7. 65.7 PERFORMANCE EVALUATION
      8. 65.8 REELECTION
      9. 65.9 FINANCIAL REPORTING
      10. 65.10 AUDIT COMMITTEE AND AUDITORS
      11. 65.11 SUMMARY
    23. CHAPTER 66: CORPORATE GOVERNANCE: UNITED STATES
      1. 66.1 THE U.S. CORPORATE GOVERNANCE MODEL
      2. 66.2 U.S. REGULATORY AGENCIES AND REGULATIONS OF INTEREST
      3. 66.3 WORLD BANK RATINGS FOR SIX ELEMENTS OF GOVERNANCE
      4. 66.4 COMPETITIVENESS OF U.S. MARKETS
      5. 66.5 HIGHER U.S. UNDERWRITING FEES DRIVE UP IPO COSTS
      6. 66.6 IMPROVED GOVERNANCE DOES NOT TRANSLATE INTO HIGHER GROWTH RATES
      7. 66.7 INVESTOR SURVEYS INDICATE DISSATISFACTION WITH U.S. CORPORATE GOVERNANCE
      8. 66.8 EXECUTIVE COMPENSATION
      9. 66.9 SUGGESTIONS TO IMPROVE BOARD OF DIRECTOR GOVERNANCE
      10. 66.10 CONCLUSION
    24. CHAPTER 67: SARBANES-OXLEY ACT
      1. 67.1 INTRODUCTION
      2. 67.2 KEY PRINCIPLES OF SOX
      3. 67.3 PRINCIPLES- AND RULES-BASED LEGISLATION
      4. 67.4 SOX COMPLIANCE
      5. 67.5 GENERAL COMPLIANCE REQUIREMENTS
      6. 67.6 BENEFITS OF COMPLIANCE
      7. 67.7 CONSEQUENCES OF NONCOMPLIANCE
      8. 67.8 VOLUNTARY VERSUS MANDATORY COMPLIANCE
      9. 67.9 CORPORATE PERCEPTIONS OF SOX
      10. 67.10 CONCLUSION
      11. 67.11 SUMMARY
    25. Index
    26. CHAPTER 68: MEASURING THE EFFECTIVENESS AND PERFORMANCE OF YOUR GOVERNANCE, OPERATIONAL RISK, AND COMPLIANCE PROGRAMS
      1. 68.1 TAKING A STEP BACK
      2. 68.2 PROGRAM EFFECTIVENESS
      3. 68.3 BEYOND EFFECTIVENESS
      4. 68.4 TOTAL PROGRAM PERFORMANCE
      5. 68.5 PERFORMANCE MEASUREMENT BENEFITS
      6. 68.6 MEASUREMENT PRESENTS CHALLENGES
      7. 68.7 MEASURING PROGRAM PERFORMANCE
    27. CHAPTER 69: ACCOUNTING, BUDGETING, AND REPORTING—HOW IS THE REGULATORY FRAMEWORK CHANGING IN THE PUBLIC SECTOR?
      1. 69.1 INTRODUCTION: ACCRUAL AND CASH BASED—WHAT DOES IT MEAN?
      2. 69.2 PUBLIC SECTOR MIGRATION TO ACCRUAL ACCOUNTING: PROS AND CONS
      3. 69.3 INTERNATIONAL PUBLIC SECTOR ACCOUNTING STANDARDS
      4. 69.4 ADOPTION OF ACCRUAL ACCOUNTING IN EUROPE
      5. 69.5 CONCLUSIONS
      6. 69.6 APPENDIX
    28. CHAPTER 70: INTRODUCTION TO CHINA'S BANKING SECTOR
      1. 70.1 Introduction
      2. 70.2 CHINA'S BANKING REGULATORY ENVIRONMENT
      3. 70.3 FITCH'S EVALUATION OF CHINESE BANKS
      4. 70.4 CHINA'S BANKING REGULATORY AGENCIES
      5. 70.5 THE PEOPLE'S BANK OF CHINA (PBC)
      6. 70.6 CHINA BANKING REGULATORY COMMISSION (CBRC)
      7. 70.7 CHINA SECURITIES REGULATORY COMMISSION (CSRC)
      8. 70.8 CHINA'S ADOPTION OF BASEL II
    29. CHAPTER 71: THE KEY TO MALAYSIAN FINANCIAL INSTITUTIONS COMPLIANCE AND ECONOMIC CRIME REQUIREMENTS
      1. 71.1 BACKGROUND
      2. 71.2 CUSTOMER DUE DILIGENCE FOR INDIVIDUAL CUSTOMERS
      3. 71.3 CORPORATE CUSTOMERS
      4. 71.4 CLUBS, SOCIETIES, AND CHARITIES
      5. 71.5 LEGAL ARRANGEMENT
      6. 71.6 BENEFICIAL OWNERSHIP AND CONTROL
      7. 71.7 RELIANCE ON INTERMEDIARIES FOR CDD
      8. 71.8 NON-FACE-TO-FACE CUSTOMERS
      9. 71.9 POLITICALLY EXPOSED PERSON
      10. 71.10 HIGHER-RISK CUSTOMERS
      11. 71.11 EXISTING CUSTOMERS
      12. 71.12 RECORD KEEPING
      13. 71.13 COMBATING TERRORISM
    30. CHAPTER 72: CORPORATE GOVERNANCE AND RISK MANAGEMENT IN THE SOUTH AFRICAN BANKING INDUSTRY
      1. 72.1 INTRODUCTION
      2. 72.2 CORPORATE GOVERNANCE
      3. 72.3 OPERATIONAL RISK
      4. 72.4 KING COMMITTEE ON CORPORATE GOVERNANCE
      5. 72.5 CAPITAL CHARGE FOR OPERATIONAL RISK
      6. 72.6 FINANCIAL SECTOR CHARTER
      7. 72.7 CONCLUSION
    31. CHAPTER 73: MEN BEHAVING BADLY IN BANKING: REVEALING THE IRRELEVANCE OF BEST PRACTICES IN CORPORATE GOVERNANCE
      1. 73.1 INTRODUCTION
      2. 73.2 BACKGROUND TO THE PROBLEMS
      3. 73.3 EMERGING PROBLEMS
      4. 73.4 RENEWAL INTRODUCED BY TWO WHISTLE-BLOWERS
      5. 73.5 WHY BEST PRACTICES CANNOT PREVENT PROBLEMS

Product information

  • Title: Governance, Risk, and Compliance Handbook: Technology, Finance, Environmental, and International Guidance and Best Practices
  • Author(s): Anthony Tarantino
  • Release date: March 2008
  • Publisher(s): Wiley
  • ISBN: 9780470095898