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We're broadening our mission in response
to your needs
404 Institute members have always played a vital role in determining our agenda.
Five years after the adoption of Section 404 became mandatory; our members
report that compliance activities are continuing to be integrated into the
corporate environment. As a result, members previously focused entirely on
compliance are taking on increasingly operational roles. Given these dynamics
the Institute is expanding its focus to meet your evolving needs by continuing
to offer guidance and thought leadership on the broader set of financial
management issues that affect you.
To help address your needs, we will cover a range of topics in addition to
section 404 compliance - including financial reporting, and risk and controls.
This will enable us to continue providing you with an open forum where ideas
can be exchanged and leading practices developed on issues that impact you
most.
We invite you to explore our updated Web site to find the wider range of topics
and events we're scheduling to help you address the broader scope of issues you
face.
As always, please contact us with any questions or suggestions you may have
going forward.
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Topics | | | | | Considering Risk, Sustainability of a ‘Cost-Reduced’ Business Model | Click here to DOWNLOAD PDF | | Cost cutting has been a key response of most companies to the economic crisis: With revenue growth flat or negative, there hasn't been much choice. This article from Directorship magazine discusses the sustainability of cost cutting and presents some questions for directors to think about and discuss with management. | | | | | Placing A Value on Enterprise Risk Management | Click here to DOWNLOAD PDF | | While the value of an ERM program may be hard to dispute from a good management perspective – gaining improved controls, better communication, and a common risk language – risk managers and other senior leaders are frequently asked to demonstrate that their efforts add quantifiable value to their companies. As business activities and capital investments come under increasing scrutiny to optimize competitiveness and enhance returns, the call to justify ERM’s measurable value keeps getting louder. | | | | | Understanding and articulating risk appetite | Click here to DOWNLOAD PDF | | When risk appetite is properly understood and clearly defined, it becomes a powerful tool, not only for managing risk, but also for enhancing overall business performance. The issue is deceptively simple: how much risk is an organization willing to take in order to attain appropriate or sought-after returns? | | | More White Papers and Survey Results > | | |
| | | | Creating Value within Your Organization – Internal Audit's Evolving Role | Click here to DOWNLOAD PDF | | New demands from the board, senior organizational leaders, and regulators are requiring internal audit groups to refocus their efforts beyond regulatory compliance issues. Through its core competencies, internal audit is positioned to assist in a number of areas. | | | | | Investigating the Trends toward Continuous Auditing/Continuous Monitoring | Click here to DOWNLOAD PDF | | Technology advancements and the constantly changing regulatory environment are prompting leading organizations to accelerate the implementation of Continuous Auditing/Continuous Monitoring to improve risk and controls management and enhance cost effectiveness. | | | | | Why Companies Are Rebooting Their Risk Assessments | Click here to DOWNLOAD PDF | | Across industries, companies are beginning to recognize that their risk assessments are inadequate and, in fact, may be failing. Risks change continually along with business or market circumstances, but many organizations do not routinely adjust the risk profile to reflect such changes. | | | More Information Briefs - Internal Audit > | | |
| | | | How Have The Recent Regulatory Changes Impacted Compliance Programs: Results of the Institute's Flash Survey - January 2008.
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| | | | | KPMG's Defining Issues on SEC Guidance on Internal Control over Financial Reporting | Click here to DOWNLOAD PDF | | The June 2007 issue of KPMG’s Defining Issues describes the new interpretive guidance for management evaluations of internal controls over financial reporting and related rule amendments that are intended to allow management to comply with section 404 of the Sarbanes-Oxley Act more cost-effectively. | | | | | Further Delay of 404(b) Requirements Proposed for Non-accelerated Filers | Click here to DOWNLOAD PDF | | The SEC proposed to defer for an additional year the deadline for non-accelerated filers to comply with the Section 404(b) requirement that auditors attest to management reports on internal control over financial reporting.1 The proposal is intended to give the SEC staff the opportunity to complete a cost-benefit study before non-accelerated filers must comply with the requirement. | | | More Compliance > | | |
| | | | The Evolving Role of the Internal Auditor: Value Creation and Preservation from an Internal Audit Perspective | Click here to DOWNLOAD PDF | | How 1A professionals can identify and capture opportunities to use their core skills of risk and control analysis to create value for organizations. | | | | | The Evolution of Risk and Controls - From Score-Keeping to Strategic Partnering | Click here to DOWNLOAD PDF | | "Ogranizations with the desire to improve business performance through optimizing risk and controls management can not only reduce volatitity and increase sustainability, but can enhance corporate reputation and build shareholder value" | | | More Risk & Controls > | | |
| | | | KPMG's Defining Issues - Executive Summary - 2008 AICPA National Conference on Current SEC and PCAOB Development Publication Summaries | Click here to DOWNLOAD PDF | | KPMG's Defining Issues newsletter presents highlights from the recent AICPA conference on SEC and PCAOB developments, which took place on December 8-10, 2008 in Washington, D.C. | | | | | KPMG's Issues In-Depth - Comprehensive Overview - 2008 AICPA National Conference Current SEC and PCAOB Developments | Click here to DOWNLOAD PDF | | KPMG's Issues In-Depth, offers a comprehensive view of the recent AICPA conference on SEC and PCAOB developments. At this conference, speakers explained the likely effects of current economic conditions on financial reporting and disclosures, the convergence of IFRS and U.S. GAAP, and more. | | | | | SEC Proposes Mandatory XBRL Submissions | Click here to DOWNLOAD PDF | | The SEC approved issuing a proposal that would require companies to submit XBRL-formatted financial statements as exhibits to their files financial statements, phasing in the requirements over three years. Click here to download pdf. | | | More Financial Reporting > | | |
Compliance
Risk & Control
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Considering Risk, Sustainability of a ‘Cost-Reduced’ Business Model
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Cost cutting has been a key response of most companies to the economic crisis: With revenue growth flat or negative, there hasn't been much choice. This article from Directorship magazine discusses the sustainability of cost cutting and presents some questions for directors to think about and discuss with management.
DOWNLOAD PDF
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Placing A Value on Enterprise Risk Management
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While the value of an ERM program may be hard to dispute from a good management perspective – gaining improved controls, better communication, and a common risk language – risk managers and other senior leaders are frequently asked to demonstrate that their efforts add quantifiable value to their companies. As business activities and capital investments come under increasing scrutiny to optimize competitiveness and enhance returns, the call to justify ERM’s measurable value keeps getting louder.
DOWNLOAD PDF
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Understanding and articulating risk appetite
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When risk appetite is properly understood and clearly defined, it becomes a powerful tool, not only for managing risk, but also for enhancing overall business performance. The issue is deceptively simple: how much risk is an organization willing to take in order to attain appropriate or sought-after returns?
DOWNLOAD PDF
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Ten To-Do's for Audit Committees in 2010
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In its annual memo to directors, KPMG's Audit Committee Institute highlights 10 items for audit committees to keep in mind as they consider-and carry out-their 2010 agendas.
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The Business Case for a Risk Executive: Leading Efforts to Avoid Surprises, Maneuver through Challenges, and Add Value
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Robust risk management efforts are increasingly critical in a volatile global economy, when organizations face a growing number of risks that can affect their ability to be competitive and remain a viable entity. With new regulatory and governance requirements on the horizon - the SEC’s proposed Disclosure Rules (linking compensation and new Board oversight of risk management) and the impending Shareholder’s Bill of Rights (creating a new Board-level risk committee), organizations are under heightened scrutiny to address and assume new responsibilities for risk management.
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Public Policy Alert; Public Policy Impacting Business
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SEC’s Proposed Rule Would Reshape Disclosure of Compensation Policies, Governance Structure and the Board’s Role in Risk Oversight. Companies and their boards could face substantial new disclosure requirements as early as FY2010 as a result of the amendments recently proposed by the Securities and Exchange Commission (SEC) to rules affecting broad compensation policy and corporate governance disclosures.
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Understanding CFO Turnover -- Research from the 404 Institute
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Research from KPMG indicates that companies recruit new CFOs based on their evolving needs—a move designed to help them successfully execute on their current strategy and, therefore, improve performance, particularly during challenging times. This research also discusses the reasons and rate of CFO Turnover.
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Forecasting with Confidence
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All organizations use forecasts to predict and manage their future performance. But although organizations invest significant time and effort in this important task, only one in five currently produce a forecast that is reliable. This research report by KPMG and the EIU is based on a global survey of mover than 540 senior executives involved in the forecasting process from a cross section of industries.
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Three D's for Improving Your Forecasting Process
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Given the imperative for accurate forecasting, the availability of better tools and techniques, and the recent empowerment of CFOs to implement change, why aren't' companies more successful in their forecasting efforts? Tools and techniques alone cannot produce successful forecasting. Companies have struggled to forecast with reliability because they haven't focused sufficiently on forecasting fundamentals -- what we call the three D's: decisions, data, and discipline.
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The Importance of Preserving Cash in a Downturn
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In a recent survey, 83 percent of executives said managing working capital was the highest or a high priority at their companies, yet only 37 percent of those surveyed had a working capital improvement program in place during the past five years. That's just one key finding from The Importance of Preserving Cash in a Downturn, new KPMG research conducted by CFO Research Services. Click the link above to access the full survey results.
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KPMG's 2008-2009 Integrity Survey
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The results of KPMG's 2008-2009 Integrity Survey are being released at a time when public trust and confidence in the capital markets have once again been shaken. In this turbulent environment, KPMG's survey is more relevant than ever as companies, regulators and investors seek greater understanding of what factors drive the level of integrity in our institutions.
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Results of the Institute's Fourth Annual Benchmark Survey, June 2008
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The results of the 2008 Benchmark Survey, which include responses from more than 1,000 companies of various sizes and industries, indicate that 2007 was a turning point for Sarbanes-Oxley section 404. Across the market, deficiency levels have decreased or stabilized, and there is a significant shift in focus toward process efficiency and integration into the broader finance agenda versus "just getting the word done."
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