The Village Global podcast takes you inside the world of venture capital and technology, featuring enlightening interviews with entrepreneurs, investors and tech industry leaders. Learn more at www.villageglobal.vc.
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Konten disediakan oleh Olivia Duffey and BDO USA. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Olivia Duffey and BDO USA atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
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The Board’s Role in ICFR Oversight
MP3•Beranda episode
Manage episode 337369108 series 2910096
Konten disediakan oleh Olivia Duffey and BDO USA. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Olivia Duffey and BDO USA atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
Key Takeaways:
- Audit committees can ensure smooth ICFR implementation by encouraging early planning, helping secure adequate resources, being familiar with management’s process to identify risks and management’s processes and controls in place to manage those risks.
- Boards should be particularly focused on controls addressing areas of the business that are inherently higher risk.
- IT systems are critical and thorough evaluations of the IT environment and the IT general controls should be done early to avoid the late detection of control flaws over systems and relevant data that may have pervasive impacts on the effectiveness of the entire internal control environment.
- Depending on the severity of any deficiencies, the board should understand the root cause of the deficiency and what management’s plans are to remediate; and further, hold management accountable to their remediation plans.
- Board should ensure that the control environment is continually reviewed and that management takes into account, among other things, changes in risks, policies and procedures that may require enhancements to the controls environment.
79 episode
MP3•Beranda episode
Manage episode 337369108 series 2910096
Konten disediakan oleh Olivia Duffey and BDO USA. Semua konten podcast termasuk episode, grafik, dan deskripsi podcast diunggah dan disediakan langsung oleh Olivia Duffey and BDO USA atau mitra platform podcast mereka. Jika Anda yakin seseorang menggunakan karya berhak cipta Anda tanpa izin, Anda dapat mengikuti proses yang diuraikan di sini https://id.player.fm/legal.
Key Takeaways:
- Audit committees can ensure smooth ICFR implementation by encouraging early planning, helping secure adequate resources, being familiar with management’s process to identify risks and management’s processes and controls in place to manage those risks.
- Boards should be particularly focused on controls addressing areas of the business that are inherently higher risk.
- IT systems are critical and thorough evaluations of the IT environment and the IT general controls should be done early to avoid the late detection of control flaws over systems and relevant data that may have pervasive impacts on the effectiveness of the entire internal control environment.
- Depending on the severity of any deficiencies, the board should understand the root cause of the deficiency and what management’s plans are to remediate; and further, hold management accountable to their remediation plans.
- Board should ensure that the control environment is continually reviewed and that management takes into account, among other things, changes in risks, policies and procedures that may require enhancements to the controls environment.
79 episode
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