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Auditing an organization’s governance and ethics

Auditing an organization’s governance and ethics: We have no universally accepted definition of the word “governance.” The Institute of Internal Auditors (IIA) defines corporate governance as “the combination of processes and structures implemented by the board to inform, direct, manage, and monitor the activities of the organization toward the achievement of its objectives.” While many organizations throughout […]

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Why Is Integrated Reporting Important For Sustainability?

Why Is Integrated Reporting Important For Sustainability? It was soon realised that sustainable development goals which require long-term planning and a cooperative approach could not be achieved with the decisions and practices of the state only. Accordingly, the notion of corporate sustainability, which was defined for sustainable development for macro-scale states, in parallel with micro-scale […]

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Efficiency,Effectiveness,Economy and value for money

As part of their business processes, organisations should aim to: Identify opportunities to achieve efficiencies Identify what good looks like Evidence and inform cost and quality trade-offs Measure impact and track pace of change ‘Best value requires an authority to secure continuous improvement in the way in which its functions are exercised, having regard to […]

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How Core Competencies lead an Organization Competitive Advantage?

There is a close relationship between core competence and competitive advantage because both of these provide an edge to the company over other companies in their field by distinguishing them from their competitors. There are several areas that companies can focus on to get an advantage over their competitors. Companies can stand out from the rest when […]

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How to Become a Certified Financial Risk Manager (FRM®)

Financial Risk Managers (FRM) receive accredited by the Global Association of Risk Professionals (GARP). FRMs specialize in assessing risk for major banks, insurance companies, accounting firms, regulatory agencies, and asset management firms. FRM certification requires passing a two-part exam and completing two years of work experience in financial risk management. An FRM identify threats to assets, earning capacity, or […]

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How to deal with crisis situation : Guidence to Students

Situations crop up regularly in most classrooms that threaten to distract from the lesson and derail learning for all. The following are a few suggestions for getting students back on track and keeping your cool when challenges arise. Cool off. Students take a moment and a breath when they feel their emotions getting the better […]

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Where is Internal Audit, into an increasingly technology-driven, innovation-oriented, risky, and disruptive future!

Where is Internal Audit, into an increasingly technology-driven, innovation-oriented, risky, and disruptive future: The world is entering the fourth industrial revolution and new technologies, digitalization, and artificial intelligence are dramatically changing the business landscape. That means organisations are hurtling into an increasingly technology-driven, innovation-oriented, risky, and disruptive future. The question is now where is the […]

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Modern Performance Management Tecnique

What is Lean? https://www.gmsisuccess.com The core idea of lean manufacturing is actually quite simple…relentlessly work on eliminating waste from the manufacturing process. So what is waste? Waste is defined as any activity that does not add value from the customer’s perspective. According to research conducted by the Lean Enterprise Research Centre (LERC), fully 60% of […]

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Why you might want to consider benchmarking in your organisation

Benchmarking is a process of measuring the performance of a company’s products, services, or processes against those of another business considered to be the best in the industry, aka “best in class.” The point of benchmarking is to identify internal opportunities for improvement. By studying companies with superior performance, breaking down what makes such superior […]

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