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

CHAPTER 1

INTRODUCTION

Anthony Tarantino, PhD

1.1 ACT LOCALLY, IMPACT GLOBALLY

1.2 GOVERNANCE

(a) Introduction

(b) The Moral Foundations to Tone-at-the-Top

(c) Chronology of Corporate Governance

(d) Commonly Accepted Principles of Corporate Governance

(e) Models of Corporate Governance

(f) Agency Theory versus Stewardship Theory in Governance

(g) Scandals Drive Improvements in Governance

1.3 RISK

(a) Introduction

(b) COSO and Enterprise Risk Management

(c) Information Technology (IT) Risk Management

(d) Quantification of Risk

1.4 COMPLIANCE AND INTERNAL CONTROLS

(a) Introduction

(b) The Case of Sarbanes-Oxley Section 404

1.5 GRC AND GLOBALIZATION

(a) Introduction

(b) Globalization of Capital Markets

(c) Governance, Trade, and Growth

1.6 GROWTH OF GLOBAL TRADE

1.7 SIMPLE SUGGESTIONS TO IMPROVE GOVERNANCE, RISK MANAGEMENT, AND COMPLIANCE (GRC)

(a) Take a Holistic Approach to GRC

(b) Map Processes to Controls to Audited Regulations

(c) Rationalize and Prioritize Risks

(d) Increase Controls Standardization and Automation

(e) Create an Internal Controls Grading System for Stocks

1.8 WHY READ THIS BOOK: THE CASE FOR GOOD GRC

1.9 ORGANIZATION OF THE HANDBOOK

NOTES

1.1 ACT LOCALLY, IMPACT GLOBALLY

In his farewell sermon to the congregation of Mount Olive Ministries in Milpitas, California, Pastor Michael Gibson urged the congregation to act locally and that every local act would have a global impact. Mike's message was directed at expanding the faith, but the process is much the same in ...