Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Among the many responsibilities of an audit committee, overseeing the function of internal audit can be among the more challenging and complex. New York Stock Exchange (NYSE)-listed companies must include, and many companies generally do include, oversight of the internal audit function as one of the responsibilities of the audit committee. As a result, it is common for an internal audit function to be required and the scope of that function subject to the oversight of the audit committee. From a governance perspective, what is the mission of internal audit?
According to the Institute of Internal Auditors (IIA) in its new professional practices framework, the mission of internal audit, and its role of enhancing and protecting the value of the organization, is to provide risk-based and objective assurance, advice and insight into the operations of an organization. One of the basic functions for an audit committee or a board of directors in connection with establishing and defining the functions of internal audit, is to seek agreement and consensus of the organization and management of the role to be played by internal audit and the focus of its work. Clearly, the basic functions relate to compliance programs, risk assessment and internal control; fostering a culture of excellence, integrity and compliance.
Today, the news frequently reflects inappropriate corporate activities, ranging from fraud and corruption, payment of bribes, and general rule-breaking by rogue employees. Compliance programs and training are intended to detect and prevent these activities and actions. In theory, an effective compliance program and an active, risk based internal audit function should thwart or deter illegal or inappropriate activity.
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Possession of real property is a matter of physical fact. Having the right or legal entitlement to possession is not "possession," possession is "the fact of having or holding property in one's power." That power means having physical dominion and control over the property.
UCC Sections 9406(d) and 9408(a) are one of the most powerful, yet least understood, sections of the Uniform Commercial Code. On their face, they appear to override anti-assignment provisions in agreements that would limit the grant of a security interest. But do these sections really work?